4imprint Group PLC Update on Current Trading (6839D)
October 30 2020 - 3:00AM
UK Regulatory
TIDMFOUR
RNS Number : 6839D
4imprint Group PLC
30 October 2020
30 October 2020
4imprint Group plc ("4imprint" or the "Group")
Update on Current Trading
4imprint today provides an update on the Group's trading and
operations.
Encouraging progress has been made in dealing with the
continuing disruptive effects on the business of the COVID-19
pandemic. In the Group's half year results, announced on 13 August
2020, we noted that weekly order intake had recovered to a run rate
of just above 50% of prior year from a low in April of less than
20%. Recent experience has seen further improvement, with average
weekly order intake running at just above 60% of prior year level
over the last four weeks. Average order values have continued to
run higher than historical comparatives, resulting in average
weekly revenue over the same four week period of around 65% of
prior year.
The apparel category has performed well compared to other
categories during the pandemic. Decorated apparel unit volume at
the Oshkosh Distribution Centre is now running at close to prior
year level and, as a result, the utilisation of permanent labour
capacity has now returned to 100%.
We continue to acquire new customers at a relatively promising
rate, with the new-to-existing customer ratio running in a stable
band. This customer activity has been driven by a careful and
precise re-introduction and reallocation of marketing funds,
particularly towards our brand marketing programme.
Every effort is being made to manage the effects of the pandemic
throughout our operations. Strong safety and social distancing
protocols are being observed in all of our facilities. Wherever
practical, our office-based team members are still working from
home.
The Group remains in a strong financial position, with a cash
balance of $40.1m at the October 2020 accounting month end and no
debt.
Although we have seen encouraging signs in recent weeks, the
inherent uncertainty resulting from the COVID-19 situation means
that it is too early to provide any forward guidance at this point.
We do, however, remain very confident in the Group's strategy,
business model, competitive positioning and ultimately our ability
to deliver sustainable value for all stakeholders.
For further information, please contact:
4imprint Group plc MHP Communications
Tel. + 44 (0) 20 3709 9680 Tel. + 44 (0) 20 3128 8549 / +44
(0) 7585 301464
Kevin Lyons-Tarr , Chief Executive Katie Hunt
Officer
Rachel Mann
David Seekings, Chief Financial
Officer
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END
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