Source - Alliance News

4imprint Group PLC on Tuesday increased its guidance for pretax profit for 2023, but its shares fell as it warned of softer demand patterns in recent trading.

The London-based marketer and distributor of promotional products continues to expect revenue above $1.3 billion, up around 14% from $1.14 billion in 2022.

Further, it upgraded its pretax profit guidance by 4.0% to $130 million from $125 million. It would be 25% higher than $103.7 million in 2022.

4imprint noted that October year-to-date order counts in the primary North America business were 13% higher than in 2022, with average order values 1% higher.

‘In recent weeks we have seen some evidence of softening demand patterns typical of a more cautious macro-economic environment,’ the firm noted.

‘That said, our experience is that a less buoyant economic outlook represents a market share opportunity for 4imprint as our financial strength allows us to keep investing in the business and to take full advantage of a market recovery.’

4imprint shares fell 6.1% to 4,731.22 pence each on Tuesday morning in London.

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