MARKET REPORT: 4imprint rises after boom in sales of merchandise


Shares in 4imprint soared after booming demand boosted profits.

The company, which makes promotional products such as mugs and pens, was the biggest riser in the FTSE 250 after it said it expects profits of at least £110.5m for 2023.

That was slightly higher than forecast by analysts while revenues look to have risen 16 per cent to £1.05billion. Shares jumped 12 per cent, or 555p, to 5190p.

The update followed two profit upgrades last year.

In August, it said it expected annual profits of at least £99m before raising this to £103m in November.

Making an impression: Shares in 4imprint soared after booming demand boosted profits

Making an impression: Shares in 4imprint soared after booming demand boosted profits

4 imprint started out marketing its products in catalogues before moving online. It now uses TV and radio campaigns.

Analysts at Peel Hunt said: ‘There seems to be no stopping 4 imprint. The company continues to deliver progress and upgrades. The focus of the new year will be on taking higher market share, which we believe it can achieve.’

The FTSE 100 inched up 0.04 per cent, or 2.84 points, to 7461.93 but the FTSE 250 lost 0.4 per cent, or 76.63 points, to 18871.41.

Abrdn Property Income is set to merge with a real estate investment trust, subject to shareholder approval, to create a combined group with properties worth more than £1billion.

It has agreed to be bought by Custodian Property Income REIT for £237m – or 62.1p a share – which represents a near-30 per cent premium on the previous day’s closing price.

Custodian shareholders will own around 60 per cent of the combined group with the rest in the hands of Abrdn Property Income investors. Shares in Abrdrn Property Income soared 10.4 per cent, or 5p, to 53p while Custodian slumped 12.8 per cent, or 10.2p, to 69.4p.

DFS brushed aside weaker sales amid subdued demand. The sofa seller expects its profits for the six months to Christmas Eve to be slightly higher than the £7.1m it made during the same period the year before. Shares rose 1.6 per cent, or 1.8p, to 112.6p.

Gambling giant Flutter spent a second day at the top of the FTSE 100 leaderboard following three broker upgrades, from analysts at Wells Fargo, Benchmark and Deutsche Bank.

On Thursday, the Paddy Power and Betfair owner reported higher sales and confirmed it is on track to list in New York by the end of the month. Shares gained another 3.1 per cent, or 470p, to 15695p.

Persimmon was on the rise after analysts at investment bank Morgan Stanley raised their rating on the housebuilder. Shares added 0.9 per cent, or 13p, to 1438p.

A drug developed by AstraZeneca to help treat certain adults who suffer from a severe blood disorder has been approved for use in Japan.

Shares in the pharma giant rose 0.7 per cent, or 76p, to 10508p.

Vistry boss Greg Fitzgerald bought nearly £100,000 of shares in the housebuilder. But the stock fell 3.4 per cent, or 32p, to 911p.

Watches of Switzerland gained 3.8 per cent, or 14.2p, to 385.6p having tumbled by more than third on Thursday after the Rolex seller slashed its forecasts following a dismal Christmas.

A slump in the value of medical devices maker Belluscura’s shares since it agreed to buy the investment firm TMT Acquisition in October has resulted in a revision of its takeover offer.

Shares in Belluscura dived 16.7 per cent, or 3.5p, to 17.5p. TMT soared 17.9 per cent, or 2.5p, to 16.5p.

Deltic Energy last year discovered gas in the Pensacola well in the North Sea and now an independent assessment has supported the company’s estimates on how much it could potentially recover and produce. Shares rose 6.6 per cent, or 1.5p, to 24.25p.





Read More

Leave a comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More