Ennis shares up on higher Q4 revenue, profit

Ennis

24/04/2023 16:26

** Shares of printed business products supplier Ennis Inc
 EBF.N  rise as much as 2.4% to $20.36
    ** Co reports higher revenue and profit for Q4, helped by
price hikes
    ** EBF also benefitted from recent acquisition of School
Photo Marketing
    ** Q4 revenue rises 3% to $102.7 mln
    ** Net income $12.2 mln, or 47 cents/share, compared with
$6.7 mln, or 26 cents/share, a year ago
    ** Co says price hikes helped cushion margins from lower
volumes and rising costs of material and labor
    ** Stock last up 1.9%; EBF down 8.6% so far in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))