4imprint Group Reports 2011 Results
4imprint Group, the international promotional products company headed by top 50 distributor 4imprint, announced its fiscal year 2011 results on Wednesday. The company showed strong performances across the board, with an 11 percent increase in revenue at £158.82 million ($250.80 million) last year over £143.72 million ($226.98 million) for 2010.
The rise in overall company revenue was driven largely by the North American branch of 4imprint, which saw $225 million in revenue, an 18 percent rise over the prior year. 4imprint also announced a 20 percent growth in North American orders received, with more than 450,000 placed in the U.S. and Canada. Pre-tax profits for the company jumped 42 percent, to £8.13 million ($12.84 million).
4imprint Group is composed of three business segments: 4imprint Direct Marketing, the promotional products distributorship; SPS, the largest United Kingdom-based promotional products manufacturer; and Brand Addition, a promotional products company operating primarily in Europe.
In February, 4imprint Group announced an agreement for a conditional sale of the Brand Addition division. The company said at the time it was changing its strategy to focus more on the North American promotional product business.
"The progress reported at the half year has continued. Strong growth in Direct Marketing on the back of further market share gains in North America; SPS now establishing an improving trading trend; the subsequent announcement of the conditional sale of Brand Addition and a pension enhanced transfer value exercise were all positive moves towards greater focus on 4imprint Direct Marketing and reducing the legacy pension risk," said John Poulter, chairman of 4imprint Group. "With a strong platform for further growth and an ungeared balanced sheet, the group is well positioned to make further progress in 2012."
In a statement, the company remained cautious moving into 2012, but said that "the early signs of economic improvement in the USA and the momentum in 4imprint Direct Marketing cause the board to be optimistic for the performance of the group in 2012."