4imprint makes its mark as profits triple

It’s fair to say we underestimated 4imprint (FOUR) when we downgraded it to a sell this time last year. The merchandise company, which provides its US customers with branded hoodies, t-shirts, wristbands and pens, had a staggeringly strong 2022. After a series of upgrades, organic revenue growth ultimately reached 45 per cent, while the group’s operating profit more than tripled year on year to $103mn. This was more than just a post-pandemic rebound: before Covid struck, 4imprint’s operating profit sat at $53.6mn.