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Pin to quick picks4Imprint Regulatory News (FOUR)

Share Price Information for 4Imprint (FOUR)

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Share Price: 6,410.00
Bid: 6,350.00
Ask: 6,370.00
Change: 40.00 (0.63%)
Spread: 20.00 (0.315%)
Open: 6,370.00
High: 6,410.00
Low: 6,350.00
Prev. Close: 6,370.00
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Trading Statement

7 Nov 2023 07:00

RNS Number : 5483S
4imprint Group PLC
07 November 2023
 

7 November 2023

4imprint Group plc ("4imprint" or the "Group")

Update on Current Trading

 

4imprint today provides a scheduled update on the Group's trading and operations.

 

In our Interim Report dated 9 August 2023, we highlighted the Group's very strong first half trading performance compared to the same period in 2022. Further good progress has been made, both operationally and financially, up to the end of October 2023.

 

As such, the Board updates the 2023 full year guidance given with the Interim results: Group revenue is expected to be slightly above $1.3bn (unchanged) and Group profit before tax is now expected to be not less than $130m (previously $125m).

 

As anticipated, the percentage increases in demand activity and revenue compared to 2022 have moderated as the year has progressed. This reflects the contrast between the weak comparatives from the first quarter of 2022 and the significantly more challenging year-on-year comparatives arising from April onwards driven by the recovery from the pandemic.

 

As a result of these factors, October year to date order counts in the primary North American business were 13% above 2022. Over the same period, average order values remained strong at 1% above 2022 levels, resulting in overall demand revenue for October year to date at 15% higher than the corresponding period in 2022. In recent weeks we have seen some evidence of softening demand patterns typical of a more cautious macro-economic environment. That said, our experience is that a less buoyant economic outlook represents a market share opportunity for 4imprint as our financial strength allows us to keep investing in the business and to take full advantage of a market recovery.

 

With a cash balance of $95m at the October 2023 accounting month end, after funding the Interim dividend ($17.7m) in September 2023, the Group remains in a very strong financial position.

 

Looking forward, whilst cognisant of the uncertain macro-economic climate in its primary markets, the Board remains highly confident in the Group's strategy, positioning and prospects.

 

 

For further information, please contact:

 

4imprint Group plc

MHP Group

Tel: + 44 (0) 20 3709 9680

Tel: + 44 (0) 7884 494112

 

 

Kevin Lyons-Tarr, Chief Executive Officer

Katie Hunt

 

 

David Seekings, Chief Financial Officer

Eleni Menikou

 

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