REG - 4imprint Group PLC - Trading Statement

4imprintAnnouncement

07/11/2023 07:00

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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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