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(Alliance News) - 4imprint Group PLC on Wednesday reported a surge in interim profit and a double-digit rise in interim revenue as total orders increased.
Shares were up 18% at 3,945.00 pence each on Wednesday morning in London.
For the 26 weeks that ended on July 2, the London-based marketer of promotional merchandise booked a 58% rise in revenue to USD515.5 million from USD326.8 million the year before. 4imprint said its total orders processed rose to 886,000, up 44% from 616,000 the year before.
Pretax profit multiplied to USD43.9 million from USD3.4 million, as operating profit surged to USD44.0 million from USD3.6 million the year before.
4imprint said net finance cost reduced to USD70,000 from USD230,000 due to improving yields on cash deposits.
"The board remains very confident in the group's strategy, the strength and resilience of its business model and its competitive position. This confidence is expressed in our expectation of reaching our long-held revenue target of USD1 billion during the 2022 financial year," Chair Paul Moody said.
4imprint upped its interim dividend to 40 US cents from 15 cents a year prior, reflecting "performance in the first half of the year," it noted.
In the second half, 4imprint said the first few weeks have been "encouraging".
By Xindi Wei; xindiwei@alliancenews.com
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