4imprint Group - Further progress in Q323
4imprint’s Q323 trading update indicated further good growth, albeit moderating against comparatives getting tougher as the year progresses. Full year revenue guidance is maintained at ‘slightly above’ $1.3bn, with continuing high returns on marketing spend prompting a $5m uplift in PBT guidance to ‘not less than $130m’. 4imprint’s underlying markets reflect US corporate economic health, with any downside mitigated by the prospect of carrying on building market share as less well-funded firms struggle. Already the largest North American distributor of promotional products, 4imprint’s market share in H123 was just 5.9%, giving plenty to go for. The long-term growth record, strong cash generation and robust balance sheet underpin the rating.4Imprint Group is a direct marketer of promotional products in the U.S., Canada, the U.K. and Ireland. Co. sells a range of promotional products including merchandise custom printed with the logo or name of an organization with the intention of promoting a brand, service, product or event. Co.'s product range comprises of individual products ranging from basic giveaways such as pens, bags and drinkware to items such as embroidered apparel, business gifts and full size trade show displays.
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