Group plc
4imprint Group plc Annual Report 2020
OUR PURPOSE
Our purpose is to harness the enduring appeal of promotional products to help our customers build their brand, promote their initiatives, achieve their marketing goals and make lasting connections with those who are important to them. With every order we are trusted to carry a distinctive logo or message on our products, so we understand clearly
that our primary aim is to be certain to make our
customers and their organisations shine.
We deliver on this trust by nurturing an authentic environment where our people are valued and empowered to do their best work.
By placing a particular emphasis on personal fullment, we believe that we can attract and retain like-minded teammates who are committed to providing the truly remarkable service that our customers require and deserve.
Our people go above and beyond to look after our customers, to help each other, to ensure productive outcomes for our supplier partners, and to have concern for and give back to their communities.
We consider that as long as we prioritise these mutually benecial outcomes, the long-term interests of the Company, our Shareholders and our wider stakeholders will naturally be protected.
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OVERVIEW |
STRATEGIC REPORT |
GOVERNANCE |
FINANCIAL STATEMENTS |
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01 |
Highlights |
06 |
Chief Executive's Review |
45 |
Corporate Governance Report |
75 |
Independent Auditor's Report |
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02 |
At a Glance |
09 |
Strategic Objectives |
46 |
Board of Directors |
84 |
Group Income Statement |
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04 |
Chairman's Statement |
14 |
Market Position |
48 |
Statement on Corporate |
85 |
Group Statement of |
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18 |
Business Model |
Governance |
Comprehensive Income |
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20 |
Financial Review |
52 |
Nomination Committee Report |
86 |
Group Balance Sheet |
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26 |
Principal Risks & Uncertainties |
54 |
Audit Committee Report |
87 |
Group Statement of Changes in |
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32 |
Stakeholder Engagement |
58 |
Annual Statement by the |
Shareholders' Equity |
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36 |
Sustainability |
Chairman of the Remuneration |
88 |
Group Cash Flow Statement |
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60 |
Committee |
89 |
Notes to the Financial |
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Remuneration Report |
Statements |
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72 |
Directors' Report |
113 |
Company Balance Sheet |
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74 |
Statement of Directors' |
114 |
Statement of Changes in |
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Responsibilities |
115 |
Company Shareholders' Equity |
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Company Cash Flow Statement |
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116 |
Notes to the Company's |
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Financial Statements |
ADDITIONAL
INFORMATION
124 Alternative Performance
Measures
125 Five Year Financial Record
126 Registered Ofce and Company
Advisers
Find out more online:
investors.4imprint.com
01
4imprint Group plc Annual Report 2020
HIGHLIGHTS
OPERATIONAL OVERVIEW
2020 results significantly impacted by COVID-19 pandemic
960,000 total orders processed in 2020 (2019: 1,587,000)
Business successfully managed through 'lockdown'; safety and retention of team members prioritised
Marketing successfully recalibrated to resonate during the pandemic whilst producing material cost savings
$9.14m 'lump sum' legacy pension contribution paid in May 2020
Strong financial position: cash balance of $39.77m; no debt
Well placed to capitalise on the opportunities arising in recovering markets
OVERVIEW
REPORT STRATEGIC
FINANCIAL OVERVIEW
CORPORATE GOVERNANCE
REVENUE
$560.04m
-35%
2019: $860.84m
PROFIT BEFORE TAX
$3.84m
-93%
2019: $53.99m
UNDERLYING* BASIC EPS
12.55¢
-92%
2019: 154.41¢
PROPOSED TOTAL DIVIDEND PER SHARE
(CENTS)
Nil
2019: 84.00¢
UNDERLYING* PROFIT BEFORE TAX
$4.37m
-92%
2019: $54.68m
CASH
$39.77m
-3%
2019: $41.14m
BASIC EPS
11.03¢
-93%
2019: 152.42¢
PROPOSED TOTAL DIVIDEND PER SHARE
(PENCE)
Nil
2019: 66.68p
FINANCIAL STATEMENTS
ADDITIONAL INFORMATION
2020 is a 53 week period and 2019 is a 52 week period. See page 21.
* Underlying is before defined benefit pension charges.
02
4imprint Group plc Annual Report 2020
AT A GLANCE
We are a direct marketer of promotional products with operations in North America and the UK and Ireland. Prior to the impact of the COVID-19 pandemic in 2020 we had delivered a decade of uninterrupted market-beating organic revenue growth.
OUR OBJECTIVE
Our aim is to return to our pre-COVID-19 trajectory of organic revenue growth by expanding our share in the still fragmented markets in which we operate. Our target is to achieve $1bn in Group revenue, although the achievement of this objective may now be delayed until after the original target date of 2022.
WHAT WE DO
We make it easy for our customers to promote their service, product or event. Our customers know that promotional products from 4imprint's extensive range along with personal, expert service on every order will ensure that their name - and brand - looks great in front of their target audience.
03
4imprint Group plc Annual Report 2020
WHERE WE DO IT
NORTH AMERICA
Most of our revenue is generated in the USA and Canada, serviced from an office and a distribution centre in Oshkosh, Wisconsin.
REVENUE
$549.87m
98%
EMPLOYEES
1,097
December 2020
UK AND IRELAND
Customers in the UK and Irish markets are serviced from an office in Manchester, UK.
REVENUE
$10.17m
2%
EMPLOYEES
43
December 2020
HOW WE DO IT
Our business operations are focused around a highly developed direct marketing business model. Organic growth is delivered by using a wide range of data-driven, online, offline and brand-based direct marketing techniques to capture market share in the large and fragmented promotional product markets that we serve.
FIVE YEAR GROWTH
REVENUE
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$560.04m |
OVERVIEW |
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20 |
560.04 |
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19 |
860.84 |
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18 |
738.42 |
REPORTSTRATEGIC |
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UNDERLYING PROFIT BEFORE |
TAX |
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|
17 |
627.52 |
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16 |
558.22 |
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$4.37m |
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GOVERNANCE |
CORPORATE |
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20 |
4.37 |
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19 |
54.68 |
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18 |
45.59 |
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17 |
41.91 |
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16 |
37.92 |
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UNDERLYING EARNINGS PER SHARE |
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STATEMENTS |
FINANCIAL |
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12.55¢ |
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20 12.55
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19 |
154.41 |
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18 |
129.77 |
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17 |
106.74 |
ADDITIONAL INFORMATION |
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16 |
98.03 |
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Reaching our customers Innovative marketing allows us to introduce millions of potential customers to tens of thousands of customised products.
Looking after our customers We have an exceptional culture revolving around the delivery of remarkable customer service, and a robust satisfaction guarantee that our customers can rely on.
Our product range
Our merchandisers work closely with our suppliers to continuously update and curate our extensive product range.
Application of technology
Our appetite for technology delivers an attractive customer experience, an efficient order processing platform and sophisticated data‑driven analytics.
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4imprint Group plc published this content on 15 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2021 14:24:20 UTC.