Last checked at 27 Apr 2011 11:00
4imprint Group plc
Interim Management Statement and AGM Statement
The Board of 4imprint, the international promotional products group, makes the following interim management statement at its Annual General Meeting for the period from 2 January 2011 to 27 April 2011, incorporating information relating to the financial performance of the business for the period from 2 January 2011 to 2 April 2011.
Group revenue for the first quarter at £45.46m was 11% ahead of prior year (13% at constant currency).
Revenue in the 4imprint Direct Marketing Division which represents around 65% of Group revenue showed strong organic growth. Quarter one revenue in US dollars in the North American business was 19% ahead of prior year and revenue in the UK business was 3% ahead of prior year. In sterling, divisional revenue at £29.44m was 14% ahead of prior year. In the North American business, both new and existing customer order statistics are significantly ahead of prior year and the return on prospecting spend continues to move ahead.
The Brand Addition Division represents approximately 30% of the Group revenue and quarter one revenue at £13.42m was 14% ahead of prior year. Growth is from new clients as well as an increase in existing customer business.
Revenue, including inter divisional revenue, in SPS in quarter one at £3.48m was 18% below prior year. Cost reduction has been achieved and management effort is focussed on selling and marketing initiatives.
Subject to a continuation of current economic circumstances, the Board anticipates year on year growth in revenue and profitability in the Direct Marketing and Brand Addition Divisions.
For further information please contact:
John Poulter Chairman +44(0) 20 7299 7201
Gillian Davies Group Finance Director +44(0) 20 7299 7201