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(Alliance News) - 4imprint Group PLC on Thursday reported its weekly order intake in the fourth quarter had recovered to 70% of the previous year's figures on a like-for-like basis compared to 60% in the third quarter.
The London-based marketer of promotional merchandise said its 2020 unaudited revenue was down 35% to USD560.0 million from USD860.8 million in 2019.
Meanwhile, its 2020 underlying pretax profit, which excludes defined-benefit pension charges and exceptional items, is expected to be in line with internal forecasts. For comparison, its underlying pretax profit in 2019 was USD54.7 million.
4imprint said it has entered 2021 in a "strong" financial position and "ample" liquidity, with an unaudited net cash balance at the 2020 year-end of USD39.8 million, down from USD41.1 million in 2019.
"Although pandemic-related uncertainty remains a challenge, the board is proud of the resilience and flexibility demonstrated by the group's people and business operations, leaving 4imprint well placed to capitalise on the opportunities presented by recovering markets," said 4imprint.
4imprint plans to publish its results for the financial year ended January 2 on March 16.
Shares in 4imprint were up 4.7% at 2,365.00 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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