London-based 4imprint Group, the parent company of Counselor Top 40 distributor 4imprint (asi/197045), has reported final 2013 revenues of £212.9m ($356 million), up from £183.5m ($307 million) in 2012, a year-over-year increase of 16%. Sales of promotional products, 4imprint said, grew to £196.4m ($328.5 million), driven largely by gains in the U.S. market. In fact, following last month’s sale of SPS, its European supplier division, 4imprint now counts 96% of revenues as coming from North America.
“Following the sale of SPS, 4imprint is now a pure play direct marketing business with significant growth prospects,” said 4imprint Group Chairman John Poulter.
In detailing its gains from promotional products, 4imprint generated a 19% increase in orders from existing customers and an 8% increase in orders from new customers in North America. The company said it spent an additional 10% on marketing, including a 25% increase on online marketing that was “in line with the strategy of investment to drive organic growth.” In its earnings statement, 4imprint reported that its 2013 sales rose by 15% in its North American division, reaching revenues of $294.9 million.
Looking forward, 4imprint expects continued growth as it concentrates more on its direct marketing strategy. “Early indications for 2014 are of continuing good operational performance in line with our aspirations although the dollar exchange rate will, if sustained, act as a headwind on performance measured in sterling,” Poulter said.