4imprint Group upbeat after 'encouraging' first half
Promotional products company 4imprint Group reported a 16% improvement in its revenue in its half-year results on Wednesday, to $405.06m (£332.83m).
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The FTSE 250 firm said its underlying profit before tax for the six months ended 29 June was 21% higher at $19.79m, while its profit before tax was ahead 22% at $19.45m.
Underlying basic earnings per share were up 21% at 55.81 US cents, and basic earnings per share were 22% higher at 54.81 cents.
The board declared an interim dividend in US dollars of 25 cents, up 20%, and in sterling of 20.52p, which was 29% higher year-on-year.
On the operational front, 4imprint said its organic revenue growth was 16% over the first half of 2018, adding that its investment into brand marketing was producing “encouraging” results.
A total of 778,000 orders were processed in the period, with 147,000 new customers acquired.
The board said the company’s customer retention patterns remained “healthy”, adding that it was in a “strong” financial position, with its cash balance standing at $42.7m at the half-year.
“The group has a clear strategic direction, a proven business model and an attractive market opportunity,” said 4imprint Group chairman Paul Moody.
“An encouraging first half performance gives the board confidence that the full year results will be slightly above current market consensus forecasts.”