4imprint Group PLC
23 May 2002
Press Release 23 May 2002
4imprint Group plc
AGM Statement
We have continued to make good progress with the strategic initiatives noted in
our Preliminary Statement on 20 March 2002. These include the conversion of the
AIA franchise owners to OASIS, our bespoke operating system and the integration
of the back-office functions of the Partner Services channel into our Oshkosh
facility in the US.
In the US we have been winning Corporate Programme business from opportunities
sourced by our franchise owners, including the previously announced significant
new contracts with Union Pacific, Northrop Grumman and JCB North America. These
wins are characterised by an initial set up period of up to 12 months and,
although slightly later than we had originally expected, we will begin to feel
their impact this year. Market conditions in our Direct Marketing and Partner
Services channels are slowly recovering, and results overall in the US are
broadly in line with the same period last year.
In the UK, our Premiums channel has performed ahead of expectations, but our
other UK channels have not recovered as anticipated and the UK is therefore
behind forecast for the period. In these channels we were expecting a market
recovery in the second half but we do not yet have firm evidence of when this
will occur.
- Ends -
www.4imprint.com www.4imprint.co.uk
For further information, please contact:
4imprint Group plc
Dick Nelson, CEO Tel: +44 (0) 161 272 4000
Email: dnelson@4imprint.com
Media enquiries:
Bankside Consultants Limited
Julian Bosdet / Russell Elliott Tel: +44 (0) 20 7444 4140
Email: russell.elliott@bankside.com
This information is provided by RNS
The company news service from the London Stock Exchange
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