4th Nov 2022 08:57
(Alliance News) - 4imprint Group PLC on Friday said trading in the year so far has gone well, as it expects annual revenue to be around USD1.1 billion.
Shares were up 6.3% at 3,800.00 pence each on Friday morning in London.
In 2021, the London-based marketer of promotional merchandise's revenue amounted to USD787.3 million. Pretax profit was USD30.2 million, multiplied from the USD3.8 million recorded in 2020.
4imprint said October year-to-date order counts in the primary North American business were up 32% over 2021, and 18% compared to 2019. During the same period, average order values remained buoyant at 6% above 2021, and up 14% from 2019.
This has resulted in "overall demand revenue October year-to-date at 40% higher than 2021, and 35% from 2019", 4imprint said.
Noting "consistent productivity from [its] marketing activities, relative stability in gross margins and operational leverage over the fixed and semi-fixed elements of the cost base," 4imprint now expects pretax profit for 2022 to be at the top end of current market consensus, and "not less than USD90 million".
"Looking forward, the board remains confident in and committed to the group's strategy, positioning and prospects," the company said.
Cash amounts to USD79 million at the end of October, up 89% from USD41.9 million a year ago.
For the half-year that ended July 2, 4imprint booked a 58% rise in revenue to USD515.5 million from USD326.8 million the year before, as pretax profit multiplied to USD43.9 million from USD3.4 million.
By Xindi Wei; [email protected]
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