4IMPRINT GROUP PLC 4imprint Group plc ("4imprint" or the "Group"), the leading international direct marketer of promotional products today provides a trading update, ahead of its final results for the year ended 27 December 2014, which it intends to announce on Wednesday 4 March 2015.
The Group continued to report strong organic growth for the fourth quarter and the year as a whole, compared with the equivalent periods in 2013, consistent with the trends reported in its Interim Management Statement issued on 24 October 2014.
In line with the announcement on 5 November 2014, the Group is now reporting its results in US dollars.
Unaudited Group revenue* for the year ended 27 December 2014 was $415.8m, 25% ahead of prior year at $332.9m. Unaudited fourth quarter revenue* at $112.2m was 27% ahead of the same period in the prior year ($88.1m). North American revenue* increased by 28% in the fourth quarter and 25% for the full year. At constant currency, UK revenue increased by 23% in the fourth quarter and 23% for the full year.
Group underlying** profit before tax will be slightly above market expectations.
Financial position
The Group remains in a strong financial position with net cash of circa $19m at the end of the year (2013: $26.0m), following the $22.4m initial contribution to the pension scheme in respect of the pension buy-in transaction completed in September 2014.
The Board has approved the expansion of its US facilities in Oshkosh, with expected cash outflow of circa $9m in 2015. This expansion will provide the necessary infrastructure for growth of the North American business over the next five years.
*Revenue includes delivery receipts and other income and excludes discontinued operations. Prior periods have been restated for the impact of these items.
**Underlying is before share option related charges, defined benefit pension charges and exceptional items.
For further information please contact:
4imprint Group plc
Tel: + 44 (0) 20 7299 7201
John Poulter
Executive Chairman
Gillian Davies
Group Finance Director
MHP Communications
Reg Hoare
Tel: + 44 (0) 20 3128 8793
Katie Hunt
Tel: + 44 (0) 20 3128 8794
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