Half year results for the 26 weeks ended 1 July 2023

09/08/2023

4imprint Group plc, (the “Group”), a leading direct marketer of promotional products, today announces its half year results for the 26 weeks ended 1 July 2023.

Financial overview	Half year 2023 $m	Half year 2022 $m	Change
Revenue Operating profit Profit before tax Cash and bank deposits	635.5 63.8 66.0 74.5	515.5 44.0 43.9 67.1	+23% +45% +50% +11%
Basic EPS (cents) Interim dividend per share (cents) Interim dividend per share (pence)	176.2 65.0 50.8	118.9 40.0 33.0	+48% +63% +54%

Financial overview

Half year 2023
$m

Half year 2022
$m

Change

Revenue

Operating profit

Profit before tax

Cash and bank deposits

635.5

63.8

66.0

74.5

515.5

44.0

43.9

67.1

+23%

+45%

+50%

+11%

Basic EPS (cents)

Interim dividend per share (cents)

Interim dividend per share (pence)

176.2

65.0

50.8

118.9

40.0

33.0

+48%

+63%

+54%

^{The results for the half year and prior half year are unaudited.}

Operational overview
- Customer demand at record levels: - 1,047,000 total orders received in H1 2023 (H1 2022: 886,000) - 158,000 new customers acquired in H1 2023 (H1 2022: 146,000) - Net operating profit margin increased to 10.0% (2022: 8.5%), driven principally by improvement in gross profit percentage and favourable returns on marketing spend - Supply chain challenges experienced in 2022 mostly resolved - Pension buy-in transaction in June 2023 insured substantially all remaining pension benefits, de-risking the balance sheet through the elimination of inflation, interest rate and longevity risks - Interim dividend of 65.0c per share declared (2022: 40.0c) reflects performance in the first half of the year and the Group’s strong financial position

Operational overview

- Customer demand at record levels:
- 1,047,000 total orders received in H1 2023 (H1 2022: 886,000)
- 158,000 new customers acquired in H1 2023 (H1 2022: 146,000)
- Net operating profit margin increased to 10.0% (2022: 8.5%), driven principally by improvement in gross profit percentage and favourable returns on marketing spend
- Supply chain challenges experienced in 2022 mostly resolved
- Pension buy-in transaction in June 2023 insured substantially all remaining pension benefits, de-risking the balance sheet through the elimination of inflation, interest rate and longevity risks
- Interim dividend of 65.0c per share declared (2022: 40.0c) reflects performance in the first half of the year and the Group’s strong financial position

Paul Moody, Chairman said:

“The Group’s strong first half performance clearly demonstrates that its strategy and business model are effective in delivering profitable market share gains.

As a result, the Board’s expectation, based on these latest financial results together with recent internal forecasts, is that full year 2023 Group revenue will now be slightly above $1.3bn, with profit before tax not less than $125m.

Trading results in the month of July 2023 have been in line with the Board’s expectations.”

For further information, please contact:

4imprint Group plc
Tel. + 44 (0) 20 3709 9680
hq@4imprint.co.uk
Kevin Lyons-Tarr, Chief Executive Officer
David Seekings, Chief Financial Officer

MHP Group
Tel. + 44 (0) 7884 494112
4imprint@mhpgroup.com
Katie Hunt
Eleni Menikou

Read the announcement in full