4Imprint hails 'very encouraging progress'

(Sharecast News) - 4imprint said on Tuesday that the first four months of 2021 have shown "very encouraging" progress in the recovery from the effects of the pandemic.
In a statement ahead of its annual meeting, the company said that since its final results in March - when it reported that total order intake in January and February was running at 65% of 2019 levels - momentum in the business has built "substantially", with order intake in April above 80% of 2019 levels.

In the most recent three-week period, order counts have averaged 85% against the same 2019 comparative, the direct marketer of promotional products said.

"This improving level of trading activity provides further confidence in the decisions taken over the last fifteen months with a view to underpinning the longer term health of the business," it said.

"The board is very pleased with the recent trading performance. Our confidence in the market position and prospects of the group has been reinforced; as the economy and business activity continue to recover, we anticipate further progress in the months ahead."

At 0930 BST, the shares were up 4.4% at 2,400p.

Broker Peel Hunt lifted its rating on the shares to 'buy' from 'hold' after the "positive" update. It said the update supports its current forecasts, which stand at the higher end of the consensus range.