In the light of the rapidly evolving situation resulting from the spread of COVID-19 and its development into a global pandemic, 4imprint today provides an update on the Group's current trading and operations.
Our first priority remains the health, safety and well-being of our people. This will not change. We will be informed by the latest governmental recommendations and measures and we will play our part to control the spread of COVID-19.
COVID-19 poses two primary threats to our business operations:
Supply chain disruption. As noted in the Group's 2019 full year results announcement on
Demand implications of global pandemic. The rapid spread of COVID-19 in
We are unable to predict how long this lower level of order activity will last, but clearly the effects of COVID-19 will impact revenue and profitability in the current financial year. In the immediate term we are materially recalibrating our marketing activities and identifying and implementing cost saving initiatives, whilst being careful not to compromise the long-term prospects of the business. We have every confidence in the flexibility and professionalism of our team members to look after our customers at this difficult time.
There is no historical precedent in the business for the demand reduction that we are seeing. At this point the speed and volatility of the unfolding crisis makes accurate or responsible forecasting very challenging. We are, however, actively working through models at various levels of demand and duration that will help guide our decision making. Additional guidance will be provided to the market as and when we have more clarity.
4imprint remains very well-financed, with a
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/ 2014. The person who arranged the release of this announcement on behalf of 4imprint was
For further information, please contact:
Tel. + 44 (0) 20 3709 9680
Tel. + 44 (0) 20 3128 8100
(C) 2020 Electronic News Publishing, source