31st Jul 2019 09:58
(Alliance News) - 4imprint Group PLC on Wednesday increased its interim dividend by 29% as it achieved double-digit rises in both profit and revenue.
For the six months ended June 29, pretax profit increased by 22% to USD19.5 million from USD15.9 million the year before, on revenue that grew 16% to USD405.1 million from USD348.3 million.
Revenue growth was mainly driven by a stronger sales performance in North America, where revenue grew by 17% to USD394.4 million. Meanwhile, revenue in the UK & Ireland region dropped by 3% to USD10.6 million amid tougher trading conditions.
4imprint declared an interim dividend of 20.52 pence per share, up 29% from 15.85p the year before.
Looking ahead, the group said the "encouraging" first half results has given the board confidence full year performance will be slightly above market forecasts.
In addition, 4imprint said the continued momentum has left it ahead of schedule towards its target of USD1 billion in revenue by 2022.
"The group has a clear strategic direction, a proven business model and an attractive market opportunity. An encouraging first half performance gives the board confidence that the full year results will be slightly above current market consensus forecasts," said Chair Paul Moody.
Shares in 4imprint Group were up 3.6% at 2,900.00 pence on Wednesday.
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