Interim Management Statement

RNS Number : 4869Q

4imprint Group PLC

07 November 2012

 



4imprint Group plc                                                                                          7 November 2012

Interim Management Statement

The Board of 4imprint Group plc, the international promotional products Group, today issues its interim management statement for the period from 1 July 2012 to 6 November 2012, incorporating information relating to the financial performance of the business for its third quarter, being the period from 1 July 2012 to 29 September 2012.

The Group continues to report strong organic revenue growth. Third quarter group revenue, from continuing operations, was £47.86m, 14% ahead of prior year. Year to date revenue (39 weeks ended 29 September 2012) was £136.21m, 15% ahead of prior year. Overall the year to date growth is consistent with the Board's expectations.

4imprint Direct Marketing (92% of Group revenue)

Revenue for the third quarter was £44.47m, 14% ahead of prior year. Year to date revenue was £125.77m, 16% ahead of prior year.

Third quarter North American revenue was US$67.57m, 12% ahead of prior year. Year to date revenue was US$190.37m, 14% ahead of prior year.

In North America, in the third quarter, the number of orders received increased by 15% and 37,000 new customers were acquired. Total number of orders received year to date was 17% ahead of prior year. The year to date average order value was 2% below prior year, a reflection of caution in the current uncertain political and economic environment. Revenue for October has continued the positive momentum.

UK Direct Marketing revenue was 14% ahead of prior year in both the third quarter and year to date.

SPS (8% of Group revenue)

Third quarter total revenue in SPS was £3.78m, 6% ahead of prior year and year to date total revenue, at £11.58m, was 8% ahead of prior year. Order intake remains positive with the benefit of new products and enhanced marketing activity.  

Cash

The Group retains a strong financial position following the sale of Brand Addition and continued cash generation by the core business. 

In the third quarter a property was purchased, in Manchester, for the UK Direct Marketing business, which needs to vacate the Brand Addition office which it occupies. The cost of the building and fit out is expected to be £0.95m and it is due to be in use before the year end.

 Outlook

Results to date indicate that, subject to macroeconomic conditions, the Group is on track for a good performance for the year.

John Poulter, Chairman of 4imprint, commenting on the IMS said:

"The Group is continuing to report strong organic revenue growth. Supported by a robust financial position, we continue to be well placed to take advantage of the growth opportunities presented by 4imprint Direct Marketing's large and highly fragmented US market. The Group continues to explore opportunities to reduce the legacy pension scheme risks."

For further information please contact:

4imprint Group plc Tel: + 44 (0) 20 7299 7201

MHP Communications

John Poulter Chairman Gillian Davies Group Finance Director

Reg Hoare Tel: + 44 (0) 20 3128 8793 Katie Hunt Tel: + 44 (0) 20 3128 8794

 

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