4imprint first half exceeds its expectations

4imprint said its first-half performance exceeded management expectations as investment in brand marketing brought new customers for the promotional products company.

Underlying pre-tax profit for the six months to the end of June rose 1% to $16.3m as revenue rose 17% to $348.3m. The interim dividend meanwhile rose 15% to 20.8 cents a share.

The company said orders processed in the first half rose 17% to 683,000 as it acquired 138,000 new customers. Orders for existing customers rose 18%.

Paul Moody, the company’s chairman, said the results put 4Imprint in a good position to achieve $1bn of group revenue by 2022

“The initial results from our brand marketing investment have exceeded our expectations,” Moody said. “The board expects that the second half of the year will show continued strong revenue growth with underlying operating profit moving ahead of prior year."