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
Tel. + 44 (0) 20 3709 9680
Kevin Lyons-Tarr, Chief Executive Officer
David Seekings, Chief Financial Officer
MHP Communications
Tel. + 44 (0) 20 3128 8794
Katie Hunt