"The group delivered an exceptionally strong first half as a result of continued market share growth," said John Poulter, executive chairman of 4imprint Group. "Indications for the second half year are that good performance, consistent with our stated strategic growth objectives, will continue."
In the UK and Ireland, 4imprint sales increased 22%, with new customer orders up 37%. In the U.S., based on constant currencies, revenues rose 23%, as 4imprint gained 87,000 new customers through the second quarter. New client orders also jumped 21% in the U.S. in 1H, according to an earnings statement. Further bolstering performance, 4imprint said online marketing initiatives and the implementation of bid management software for pay-per-click advertising strengthened its results, as well.
"The team has done a tremendous job delivering against our strategic objectives," Kevin Lyons-Tarr, president of 4imprint, told Counselor. "They, along with our supplier partners, continue to work hard offering our customers a great experience which is the basis for the solid results in the first half of the year."
Earlier this year, 4imprint Group completed the sale of its SPS unit for £7.3m ($12.4 million), generating proceeds of £5.9m ($10 million) after costs. The gains have left 4imprint Group with "a robust financial position" and net cash of £26.1m ($44 million), up from £10.4m ($17.6 million) last June.
Ranked by Counselor as the third-largest distributor in the industry, 4imprint reported 2013 North American ad specialty sales of $294.9 million.