New client wins boost profits at 4Imprint
PROMOTIONAL products company 4Imprint more than doubled pre-tax profits to £8m in 2010 as its sales pushed up by 19% to just over £200m.
The company’s Trafford Park-based promotional merchandising company, Brand Addition, proved to be the strongest performing part of the business, increasing sales by a third to £58.9m.
Group chairman John Poulter said that Brand Addition had benefited from a number of new corporate contracts secured at the end of 2009 and throughout 2010, as well as a recovery in spending levels among its existing customer base.
“The division continues to expand its geographic reach and has invested in people to maintain its service levels and expertise across a diverse range of industry sectors,” he added.
Its largest division, 4Imprint Direct Marketing, also enjoyed a 16% increase in sales to £129m but its SPS division continued its recent sales decline and the company said that cost-cutting measures were being taken – including the closure of a warehouse – to improve its performance.
Overall, 4Imprint managed to reduce its net debt to just £240,000 by its year end, while net assets grew by around £2.6m to £17.2m. The company’s board is proposing a final divided of 9p for the ytear, which is a 6% increase on the 8.5p paid last year.
Poulter said that recent efforts by the board to drive the business forwards were being rewarded.
“Our market positions have undoubtedly improved,” he said. “Despite the wider threats to economic growth, the momentum developed in the past year is evident in the early weeks of 2011.”
