4imprint Group PLC (FOUR) - Interim Management Statement
RNS Number : 4869Q
4imprint Group PLC
07 November 2012
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
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.
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 MHP Communications
Tel: + 44 (0) 20 7299 7201
John Poulter Reg Hoare
Chairman Tel: + 44 (0) 20 3128 8793
Gillian Davies Katie Hunt
Group Finance Director Tel: + 44 (0) 20 3128 8794
This information is provided by RNS
The company news service from the London Stock Exchange
IMSBRBDBLGGBGDL -0- Nov/07/2012 07:00 GMT
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