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4imprint Group PLC on Friday raised its full-year outlook, now expecting revenue for 2022 to reach $1 billion and profit to beat the highest market forecasts.
The London-based marketer of promotional merchandise said strong trading has continued in the first four months of the year, with ‘excellent demand’ to result in a ‘very strong financial performance’ for the period.
Shares in 4imprint were up 8.8% to 2,655.00 pence each in London on Friday morning.
In January to April, total order numbers in its primary North American business were 11% higher than pre-Covid 2019 levels. Average order values were 14% ahead of 2019, with overall demand revenue 27% ahead.
‘New customer acquisition has remained encouraging, and the retention statistics reliably reflect the growing customer file,’ the firm said.
The trading momentum means 4imprint is likely to achieve its long-term goal of $1 billion in revenue in 2022, which is the upper limit of analysts' forecasts and higher than analysts' consensus, it said.
4imprint said its management has raised expectations for operating profit above the highest analyst forecast, citing revenue volume gains, a more productive marketing portfolio, and stable gross margins, as well as operation gearing concerning costs.
In 2021, 4imprint reported $787.3 million revenue and an operating profit of $30.7 million.
The more positive outlook takes into account its visibility on macro-economic disruptors such as Covid, supply chain issues, inventory availability, inflation, and rising costs of labour, the company said.
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