Value of 4imprint plunges by 14%

 

Promotional products retailer 4imprint saw around 14% wiped from its value of yesterday as it warned of lower first-half results.

Worst affected has been the company's end user business, which has recorded a 24% drop in sales. The direct marketing operation, meanwhile, will report a 5% drop in its revenues.

But in an update to trading, the firm re-assured on its finances when it said: '(We have) a modest level of net debt' and it maintains tight control over its cash and working capital resources.

The shares, which have rallied from a low of 86.5p in February, dropped 22p to 134p yesterday, valuing 4Imprint at £40m. The stock was unmoved in early trading today.

In July 2007, just before the onset of the credit crunch, the stock peaked at 500p.

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