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(Alliance News) - 4imprint hailed progress over 2022 on Friday, as it expects annual revenue to be significantly up from the year before.
Analysts from Liberum and Peel Hunt were impressed, hailing the promotional products marketer's trading.
For the 12 months ended December 31, 4imprint expects revenue of USD1.14 billion, up 45% from USD787 million a year prior.
Pretax profit is also expected at the upper end of analyst forecasts, at no less than USD100 million.
Liberum maintained a 'buy' rating for shares in 4imprint, citing a particularly strong finish to the year
It increased its target price for 4imprint to 5,000 pence from 4,200p, citing "exceptional" momentum. Shares in 4imprint were up 2.9% to 4,605.00p each in London on Friday afternoon.
"The risk of US recession in FY 23 seems to be increasing, but can be absorbed given the underlying momentum," said Liberum analysts Joe Brent and Alex O'Hanlon.
"The case for a meaningful special dividend in FY22 is stronger than ever."
Brent and O'Hanlon continued: "4imprint is a high-quality business that is financially strong. The shares are trading on a 2023 price-to-earnings [ratio] of 19.2 times, which is not demanding given the continued scope for revenue growth and margin progress."
Peel Hunt also rates 4imprint at 'buy', lifting its target price to 5,500p from 4,600p.
Analyst Jessica Pok said 4imprint's 2023 revenue forecast beat Peel Hunt's by 4%, adding it had a "stellar" year and its statement on Friday marking its fifth upgrade for the year.
The company will publish final results on March 15.
By Greg Rosenvinge, Alliance News reporter
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