REG - 4imprint Group PLC - Trading Statement

4imprintAnnouncement

19/07/2022 07:00

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RNS Number : 8759S  4imprint Group PLC  19 July 2022

19 July 2022

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

Update on Current Trading

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Prior to the announcement of its 2022 Interim results on 10 August 2022,
4imprint today provides a further positive update on the Group's trading and
operations.

 

The strong trading momentum outlined in our previous trading update of 6 May
2022 has continued, with total order counts at the half year in the primary
North American business up 14% over 2019, (the most recent 'normal' year).
Average order values were also at 14% above the same comparative, resulting in
overall demand revenue of 30% above the 2019 half year.

 

As a result of this encouraging trading profile, the Board's confidence is
strengthened that the Group will meet or exceed its target of $1bn in Group
revenue during the 2022 financial year. In addition, based on current
financial results and recent internal forecasts, our expectation for full year
2022 operating profit has now improved substantially. This favourable
profitability dynamic results from revenue volume growth combined with
leverage in the business model driven by further gains in the productivity of
our marketing programme, gross margins remaining relatively steady in an
inflationary environment and operational gearing over the cost base.

 

As a consequence of these factors, the Board now expects operating profit for
the full year 2022 to be materially above the consensus of analysts'
forecasts, and not less than $75m.

 

The Board is aware that, whilst reflecting current operational and trading
visibility, these improved expectations for the Group's financial performance
come in the context of considerable uncertainty in the form of geo-political
and broad economic factors, including the threat of recession. These factors
could affect the Group's performance during the remainder of 2022.

 

The Board remains very confident 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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