| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
4imprint annual profit plunges as pandemic dents promotional products demand
StockMarketWire.com
|
Promotional products maker 4imprint reported a plunge in annual profit after the pandemic hurt demand for promotional products and orders.
For the 53 weeks ended 2 January 2021, pre-tax profit fell 93% to $3.8 million as revenue slipped 35% to $560.0 million.
The company said it had seen a recovery from the second half of the year and a robust fourth quarter.
In first two months of the new year, orders activity was lower, but improved in recent weeks.
'Order counts in January and February 2021 were 65% of 2019 levels, reflecting typically lower order activity at the start of the year combined with volatility caused by news flow and weather events in our primary US market,' the company said.
'In the past three weeks, there has been a marked increase in trading momentum, with order intake compared to 2019 approaching the 70% seen in the fourth quarter of 2020,' it added.
Story provided by StockMarketWire.com
|
|
|
|
|
|
