MARKET REPORT: 4imprint rises after boom in merchandise sales

Shares of 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 2023 profits of at least £110.5 million.

That was slightly higher than forecast by analysts, while sales appear to have risen 16 percent to £1.05 billion. Shares rose 12 percent, or 555p, to 5190p.

The update followed two profit improvements last year.

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

4 imprint began marketing its products in catalogs before moving online. It now uses TV and radio campaigns.

Analysts at Peel Hunt said: ‘There appears to be no stop. The company continues to deliver advancements and upgrades. The focus of the new year will be on capturing a larger market share, which we believe is achievable.”

The FTSE 100 rose 0.04 percent, or 2.84 points, to 7461.93, but the FTSE 250 lost 0.4 percent, or 76.63 points, to 18871.41.

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

It has agreed to be bought by Custodian Property Income REIT for £237m – or 62.1 per annum share – representing a premium of almost 30 per cent to the previous day’s closing price.

Custodian shareholders will own approximately 60 percent of the combined group, with the remainder held by Abrdn Property Income investors. Shares in Abrdrn Property Income rose 10.4 per cent, or 5p, to 53p, while Custodian fell 12.8 per cent, or 10.2p, to 69.4p.

DFS ignored the weaker sales due to weak demand. The sofa seller expects its profits for the six months to Christmas Eve to be slightly higher than the £7.1 million it earned in the same period the year before. Shares rose 1.6 percent, or 1.8p, to 112.6p.

Gambling giant Flutter topped the FTSE 100 leaderboard for a second day after three broker upgrades from analysts at Wells Fargo, Benchmark and Deutsche Bank.

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

Persimmon was on the rise after analysts at investment bank Morgan Stanley increased their rating for the housebuilder. The shares added 0.9 percent, or 13p, to 1438p.

A drug developed by AstraZeneca to treat certain adults suffering from a serious blood disorder has been approved for use in Japan.

Shares in the pharmaceutical giant rose 0.7 percent, or 76p, to 10,508p.

Vistry boss Greg Fitzgerald bought almost £100,000 worth of shares in the housebuilder. But the stock fell 3.4 percent, or 32 cents, to 911 cents.

Watches of Switzerland rose 3.8 percent, or 14.2 cents, to 385.6 cents, having fallen by more than a third on Thursday after the Rolex retailer cut its forecasts following a gloomy Christmas.

A fall in the value of shares of medical equipment manufacturer Belluscura since it agreed to take over investment company TMT Acquisition in October has resulted in a review of the takeover bid.

Shares in Belluscura fell 16.7 percent, or 3.5p, to 17.5p. TMT rose 17.9 percent, or 2.5p, to 16.5p.

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