4imprint Group release final results for year ended 29/12/2012

4imprint Group, a leading marketer of promotional products, has announced its full year results for the period ended 29th December 2012.

Financial highlights

- Revenue† was £182.92m (2011: £158.82m), up 15%
- North American Direct Marketing revenue was US$256.50m (2011: US$224.52m), up 14%
- Underlying* profit before tax† was £9.98m (2011: £8.13m), up 23%
- Profit before tax† was £7.71m (2011: £0.36m)
- Net cash at the year end was £10.68m (2011: £5.46m). North America Direct Marketing operating cash inflow was US$16.92m
- Underlying* basic earnings per share† was 28.32p (2011: 22.01p), an increase of 29%
- Basic earnings per share was 53.57p, including profit on business disposal of £8.46m (2011: 8.48p)
- Proposed total dividend per share of 15.45p (2011: 14.6p), an increase of 6%

Operational highlights

• 4imprint Direct Marketing
- Continued organic growth in North America

more than 530,000 orders received

135,000 new customers

re-order rates strong
- UK Direct Marketing revenue increased 16% to £7.04m
• SPS
- Total revenue was up 9% at £15.52m, increasing market share
• Sale of Brand Addition completed in March 2012 for aggregate consideration of £24m
• Pension risk reduction - £25m pension buy-in completed (c 20% of liability), using £12m of Brand Addition sale proceeds

John Poulter, Chairman commented: “Further strong growth of Direct Marketing in 2012, coupled with the improvement in the performance of SPS and action taken to reduce the legacy pension scheme risk, provides the Group with a sound platform for further progress in 2013. Demand in the early weeks of the new year has been encouraging.”

† Continuing operations
* Underlying is before share option charges, exceptional items and defined benefit pension charge

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