4imprint slumps on warning order increases will slow after strong Q1
Promotional products marketer 4imprint Group said trading was in line with expectations, but warned rises in order activity would moderate over the rest of the year.
Source: Sharecast
In a trading update, the company said the first four months of 2023 saw “very strong” demand, with year-to-date total order intake up 22% over the same period in 2022.
“This result was anticipated in our operational planning, which was set firmly in the context of relatively weak, pandemic-affected prior year comparatives in the first quarter of 2022.”
"Following a record year for 4imprint in 2022, the business has made substantial further progress in 2023, with the group's operating and financial performance running in line with the Board's expectations.
However, it added that with more challenging prior year comparatives from April onwards, “we expect the percentage increases in total order activity seen in the first quarter to moderate for the rest of 2023”.
Reporting by Frank Prenesti for Sharecast.com