LONDON (ShareCast) - (Sharecast News) - Promotional products supplier 4imprint reported revenue of $326.81m (£236.56m) in its first half on Wednesday, up from $265.81m year-on-year.
The FTSE 250 company said its underlying profit before tax came in at $3.55m for the 26 weeks ended 3 July, rising from $0.25m year-on-year, while its statutory profit before tax was $3.37m, growing from $0.03m.

Cash at period end stood at $52.8m, rising from $37.49m at the end of the first half of 2020.

Underlying basic earnings per share totalled 9.65 US cents, growing from 0.73 cents in the prior year, while basic earnings per share surged to 9.12 cents from 0.07 cents.

The board declared a dollar-denominated interim dividend of 15 cents and a sterling distribution of 10.83p for the period, up from nil on both counts a year earlier.

Operationally, 4imprint reported a "robust recovery" in demand in the period, having processed 616,000 total orders in the first half, up from 470,000 in the first six months of 2020, and compared to a pre-pandemic comparative of 778,000 in the first half of 2019.

A total of 113,000 new customers were acquired in the period, compared to 81,000 a year earlier, and 147,000 in the initial half of 2019, with the board noting that order counts in July were running above 2019's pre-pandemic levels.

It said its marketing portfolio was successfully "re-shaped" during the pandemic, and was now "well-positioned" in recovering markets.

The company said there was an "attractive" market share opportunity in the second half, which would require "careful management" in conjunction with pandemic-related supply chain challenges and cost increases.

Its directors confirmed the re-introduction of the firm's biannual dividend payments, adding that the company was in a "strong" financial position given its period-end cash balance, and nil debt.

"The board is confident that the group's markets remain highly attractive and addressable, and that the core strength of its flexible business model and competitive positioning will allow it to return to its pre-Covid-19 organic growth profile," said chairman Paul Moody.

At 0827 BST, shares in 4imprint Group were up 1.75% at 2,910p.

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