The ability of 4imprint’s model to generate strong earnings growth is well known and to some extent reflected in the P/Es. However, the cashgeneration potential has been masked by the risk-reduction project in the pension scheme. This will finish in 2016, and we expect surplus cash to then be progressively returned to shareholders, driving the shares higher. 4imprint is potentially valued on a FY 2017E dividend yield of 5.5%, with net cash of $17m and on-going sales and average profit g
11 Apr 2016
Accelerated cash returns on the horizon
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Accelerated cash returns on the horizon
4imprint Group plc (FOUR:LON) | 6,360 0 0.0% | Mkt Cap: 1,792m
- Published:
11 Apr 2016 -
Author:
Guy Hewett -
Pages:
16
The ability of 4imprint’s model to generate strong earnings growth is well known and to some extent reflected in the P/Es. However, the cashgeneration potential has been masked by the risk-reduction project in the pension scheme. This will finish in 2016, and we expect surplus cash to then be progressively returned to shareholders, driving the shares higher. 4imprint is potentially valued on a FY 2017E dividend yield of 5.5%, with net cash of $17m and on-going sales and average profit g