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(Alliance News) - 4imprint Group PLC on Wednesday reported a reinstated interim dividend as it steadily approaches a return to its pre-Covid levels of growth.
Shares in the promotional merchandise marketer were 4.4% higher in London at 2,985.00 pence each, one of the biggest winners on the FTSE 250 Index on Wednesday morning.
Pretax profit for the half-year ended July 3 was USD3.37 million, substantially higher from USD26,000 a year previously.
Revenue grew 23% year-on-year to USD326.8 million, boosted by a rise in new orders and its US business continuing to gain "significant momentum".
4imprint said total orders were now "running at or higher than pre-pandemic levels", with orders for July above the pre-Coronavirus 2019 period.
An interim dividend of USD0.15, or 10.83 pence, was declared, up from nil a year before.
"The board is confident that the group's markets remain highly attractive and addressable, and that the core strength of its flexible business model and competitive positioning will allow it to return to its pre-Covid-19 organic growth profile," commented Chair Paul Moody.
Despite the upbeat outlook, 4imprint did caution that the pandemic still posed challenges, with the potential risks posed by virus variants, product availability issues and pressure on operating margins in the second half of the year meaning a "range of outcomes is possible".
By Will Paige; willpaige@alliancenews.com
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