REG - 4imprint Group PLC - Trading Statement

4imprintAnnouncement

06/05/2022 07:00

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RNS Number : 5357K  4imprint Group PLC  06 May 2022

6 May 2022

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

Update on Current Trading

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

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

 

At the time of the announcement of the Group's 2021 financial results on 16
March 2022, we noted that trading performance in the first few weeks of 2022
had been encouraging. We are pleased to update the market that we have
continued to see excellent demand activity, resulting in a very strong
financial performance in the first four months of the year.

 

During the period January to April 2022 total order counts in the primary
North American business were 11% above the 2019 comparative, (the most recent
'normal' year). Average order values were 14% above 2019, resulting in overall
demand revenue of 27% above the same comparative. New customer acquisition has
remained encouraging, and the retention statistics reliably reflect the
growing customer file.

 

This building momentum in trading means we are now on track in the 2022
financial year to achieve our long-held target of $1bn in Group revenue. This
places our revenue expectations for the year above the upper limit of the
range of analysts' forecasts, and well above analysts' consensus. Management's
expectation for full year 2022 operating profit is also now above the highest
analyst forecast in the market, driven by: (i) the revenue volume gains noted
above; (ii) the productivity of the reconfigured marketing portfolio; (iii)
relatively stable gross margins; and (iv) operational gearing relating to
semi-variable and fixed costs in the business.

 

The Board is conscious that only four months of the year have elapsed and that
current geo-political and broad economic factors may well affect the Group's
performance during the balance of the year. In particular, we are cognisant of
potential issues relating to possible further COVID variants, supply chain
disruption, inventory availability, increasing cost of product, availability
and cost of labour, the effect of inflation on our customers' budgets and the
general threat of economic recession. The financial expectations outlined
above take into account our current visibility on these factors.

 

The trading performance in the first four months of 2022 gives the Board
increased confidence in the Group's strategy, business model and competitive
position.

 

The person responsible for arranging the release of this announcement on
behalf of 4imprint Group plc is David Seekings, its Chief Financial Officer.

 

 

For further information, please contact:

 

 4imprint Group plc                         MHP Communications
 Tel: + 44 (0) 20 3709 9680                 Tel: + 44 (0) 20 3128 8794

 Kevin Lyons-Tarr, Chief Executive Officer  Katie Hunt

 David Seekings, Chief Financial Officer

 

 

 

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