July 24, 2024

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4imprint Group PLC’s orders slump 80% amid coronavirus disruption

4imprint Group PLC’s () rose on Tuesday despite daily order counts slumping 80% from last year as restrictions to contain the coronavirus hit its markets.

The promotional merchandise firm has scrapped the final dividend of US$0.59 per share, saving US$16mln.

READ: 4imprint warns on profits as orders plummet

At the end of March, cash in the bank was US$50mln.

The FTSE 250-listed company said that marketing, the second-largest expense after products, has been “radically re-shaped” but maintained to take  “full advantage” if business starts to recover.

Analysts at house broker Peel Hunt said 4imprint is expected to break even or make “a small profit” this year.

Shares inched up 1% to 1,846.48p on Tuesday morning.

–Adds analyst’s comment, shares–