4imprint Group Releases Interim Management Statement
The board of 4imprint Group, the international promotional products group and parent company to U.S. distributor 4imprint, issued its interim management statement for the period from July 3, 2011 to October 29, 2011, incorporating information relating to the financial performance of the business for the third quarter, being the period from July 3, 2011 to October 1, 2011.
Group revenue for the third quarter was 12 percent ahead of prior year (14 percent at constant currency). Year to date (39 weeks ended October 1, 2011) revenue was 10 percent ahead of prior year (13 percent at constant currency).
Revenue in 4imprint Direct Marketing (67 percent of group revenue) has continued its trend of strong organic growth. North American revenue in quarter three was $60.22 million, 18 percent ahead of prior year and year to date revenue at $167.52 million also increased by 18 percent, compared to the circa 6 percent increase in the U.S. promotional products market.
Third quarter customer acquisition and retention rates have continued the positive progress reported in the first half of the year. Year to date, over 96,000 new customers were acquired in North America, well ahead of prior year. Orders from previously acquired customers increased by 22 percent over prior year as customer repurchase rates remained consistently strong. For the fourth consecutive year, the U.S. business has been named in the top 10 best medium-sized companies to work for in the USA.
Year to date total division revenue was 11% ahead of prior year. The average U.S. exchange rate for 2011 year to date was 1.61 (2010:1.53).
Brand Addition (28 percent of group revenue) total revenue in quarter three was 14 percent ahead of prior year. Year to date total revenue is 13 percent ahead of prior year. Some of this increase represents a change in the timing of customer seasonal purchases relative to 2010. There was continued growth in both new and existing customers.