Trading Update and Notice of Final Results

RNS Number : 1971C

4imprint Group PLC

15 January 2015

 



4imprint Group plc                                                                                                                         15 January 2015

Trading Update and Notice of Final Results

4imprint Group plc ("4imprint" or the "Group"), the leading international direct marketer of promotional products today provides a trading update, ahead of its final results for the year ended 27 December 2014, which it intends to announce on Wednesday 4 March 2015.

The Group continued to report strong organic growth for the fourth quarter and the year as a whole, compared with the equivalent periods in 2013, consistent with the trends reported in its Interim Management Statement issued on 24 October 2014.

In line with the announcement on 5 November 2014, the Group is now reporting its results in US dollars.

Unaudited Group revenue* for the year ended 27 December 2014 was $415.8m, 25% ahead of prior year at $332.9m. Unaudited fourth quarter revenue* at $112.2m was 27% ahead of the same period in the prior year ($88.1m). North American revenue* increased by 28% in the fourth quarter and 25% for the full year.  At constant currency, UK revenue increased by 23% in the fourth quarter and 23% for the full year.

Group underlying** profit before tax will be slightly above market expectations.

Financial position

The Group remains in a strong financial position with net cash of circa $19m at the end of the year (2013: $26.0m), following the $22.4m initial contribution to the pension scheme in respect of the pension buy-in transaction completed in September 2014.

The Board has approved the expansion of its US facilities in Oshkosh, with expected cash outflow of circa $9m in 2015. This expansion will provide the necessary infrastructure for growth of the North American business over the next five years.

*Revenue includes delivery receipts and other income and excludes discontinued operations. Prior periods have been restated for the impact of these items.

**Underlying is before share option related charges, defined benefit pension charges and exceptional items.

For further information please contact:

4imprint Group plc Tel:  + 44 (0) 20 7299 7201	MHP Communications
John Poulter Executive Chairman		Reg Hoare Tel: + 44 (0) 20 3128 8793
Gillian Davies Group Finance Director		Katie Hunt Tel: + 44 (0) 20 3128 8794

 

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