4imprint shares surge on half-year results
Shares in promotional gift seller 4Imprint surged on Wednesday after the company posted a rise in interim profits.
Pre-tax profits jumped to $43.9m in the six months to June 30, up from $3.4m. Revenue grew 58% to $515.5 million due to a sharp rise in new customers and a record flow of orders.
The company took on 146,000 new customers in the first half of the year, while total orders processed rose 44% to 886,000.
“The board remains very confident in the group's strategy, the strength and resilience of its business model and its competitive position,” said chairman Paul Moody.
“This confidence is expressed in our expectation of reaching our long-held revenue target of $1bn during the 2022 financial year.”
"At the same time, the board is cognisant of continuing uncertainty in the form of geo-political and broad economic factors that could potentially slow down the Group's performance during the remainder of 2022. Trading momentum in the first few weeks of the second half of 2022 has remained encouraging."
The interim dividend was lifted to $0.40 a share from $0.15.
Reporting by Frank Prenesti at Sharecast.com