30th Jul 2014 08:58
LONDON (Alliance News) - 4imprint Group PLC Wednesday expressed confidence for further growth in its second half and raised its interim dividend, as it reported a rise in first-half pretax profit.
The promotional products marketer proposed an interim dividend of 6.20 pence, up from 5.60 pence in the previous year.
The company posted a pretax profit of GBP4.4 million for the six months to June 28, up from GBP3.2 million in the same period a year earlier, as revenue rose to GBP115.7 million from GBP101.3 million.
In the US, revenues rose 14%, as 4imprint secured 87,000 new customers during the period, which drove new customer orders up 21%. Additionally, online marketing initiatives in the second half of 2013, and the implementation of bid management software for pay-per-click advertising, boosted performance.
In the UK and Ireland, revenue was up 22% as 4imprint focused on obtaining new customers. New customer orders were up 37%, driven by similar factors as in the US, and a programme to expand its product range.
In February the company completed the sale of its UK based manufacturing operations SPS for GBP7.3. Proceeds from the sale were GBP5.9 million after costs. As a result, 4imprint had net cash of GBP26.1 million as at June 28, up from GBP10.4 million at the previous year end.
"The group delivered an exceptionally strong first half as a result of continued market share growth. Indications for the second half year are that good performance, consistent with our stated strategic growth objectives will continue," said Executive Chairman John Poulter in a statement.
Shares in 4imprint were trading up 9.0% at 702.62 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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