Last checked at 4 Nov 2022 07:00
4 November 2022
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 10 August 2022, we highlighted that the Group's encouraging performance in the first half of the year had strengthened our confidence that we would meet or exceed our long-held revenue target of $1bn during 2022.
We are pleased to report that this positive trading momentum has continued and our latest view is that Group revenue is likely to be around $1.1bn for the year.
October year to date order counts in the primary North American business were up 32% over 2021 (up 18% vs. 2019). Over the same period, average order values remained buoyant at 6% above 2021 (up 14% vs. 2019), resulting in overall demand revenue October year to date at 40% higher than 2021 (up 35% vs. 2019). Both new customer acquisition rates and existing customer retention statistics have remained at or above our expectations.
With consistent productivity from our marketing activities, relative stability in gross margins and operational leverage over the fixed and semi-fixed elements of the cost base, we now expect 2022 Group profit before tax to be towards the top end of the current range of analysts' forecasts, and not less than $90m.
The Group remains in a strong financial position, with a cash balance of $79m at the October 2022 accounting month end, after payment of the Interim dividend ($10.6m) in September 2022.
Looking forward, the Board remains confident in and committed to the Group's strategy, positioning and prospects.
For further information, please contact:
4imprint Group plc | MHP Communications |
Tel: + 44 (0) 20 3709 9680 | Tel: + 44 (0) 20 3128 8794 |
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Kevin Lyons-Tarr, Chief Executive Officer | Katie Hunt |
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David Seekings, Chief Financial Officer | Eleni Menikou |