4imprint Group Plc (AQSE:FOUR) has said it expects profit for the current financial year to be at the top end of analysts' forecasts, while revenue is set to be ahead of the company’s target on the back of continued positive trading momentum.
Pre-tax profit is forecast to be not less than US$90mln, while group revenue is expected to come in at US$1.1bn, above its long-held target of US$1bn, the direct marketer of promotional merchandise said in a trading update.
The FTSE 250-listed company said in the October year-to-date order counts in its primary North American business were up 32% year-on-year and 18% above pre-pandemic 2019 levels.
Average order values in the period remained “buoyant” at 6% above 2021 and 14% higher than 2019, resulting in overall demand revenue rising 40% versus 2021 and 35% compared with 2019.
The company noted that both new customer acquisition rates and existing customer retention statistics were at or above its expectations.
4imprint said its cash balance stood at US$79mln at the end of October 2022.
The company's shares climbed 4.9% higher to 3,750.00p in early trade.