4imprint FY underlying profit to be in line with expectations

4imprint, a direct marketer of promotional products, said that full-year underlying pre-tax profit is set to be in line with the board’s expectations, as the order intake continues to recover.

The company had said in an update in October that its weekly order intake had recovered to just above 60% of the 2019 level. In an update on Thursday ahead of its final results in March, it said this recovery continued into the final two months of 2020, resulting in fourth-quarter order intake rising to 70% of the prior-year level on a like-for-like basis.

4imprint said unaudited group revenue for the year ended 2 January 2021 was down around 35% from 2019 to $560m and that underlying pre-tax profit for the full year 2020 is set to be in line with the board’s expectations.

The group said it remains in a strong financial position with ample liquidity. The unaudited net cash balance at the 2020 year-end was around $39.8m, down from $41.1m in 2019.

"Although pandemic-related uncertainty remains a challenge, the board is proud of the resilience and flexibility demonstrated by the group's people and business operations, leaving 4imprint well placed to capitalise on the opportunities presented by recovering markets," it said.