(Alliance News) - 4imprint Group PLC on Tuesday reported a steady rise in weekly order counts as lockdown restrictions in the US began to ease throughout May and early June.
In April, the FTSE 250 marketing company said the spread of Covid-19 had led to order counts falling to 20% of the prior year's level. Now the weekly order counts are reaching 50% of the number reported for the year before.
Operationally, 4imprint's two US locations in Oshkosh, Wisconsin and its UK office in Manchester have reopened. However, staff are continuing to work from home wherever it is practical.
The group said its balance sheet remains strong, following actions taken to conserve cash, including significantly decreased marketing investment. As at the end of May, 4imprint had cash balances of USD28.1 million, and no debt. In addition, the company has a working capital facility of USD20 million.
4imprint will publish its interim results ending June 27 on August 13.
Shares in 4imprint were up 6.0% at 2,550.00 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
4Imprint (FOUR)