The promo industry’s largest distributor, 4imprint (asi/197045), reported this week that its half-year revenue was down 1% compared to the same period in 2024, dropping to $659.4 million.

The publicly traded company, which includes North America and the United Kingdom/Ireland in its sales totals, also noted that its operating profit was up 1%, reaching $70.7 million. Profit before tax was at $74 million, up 1% from half-year 2024. Its operating profit margin increased to 10.7%, compared to 10.5% in the first half of 2024, factors that 4imprint attributed to the strength of its business model.

Paul Moody, 4imprint (asi/197045)

“Despite some market challenges and an anticipated level of rising product cost due to tariffs in the second half, the board expects that full-year group revenue and profit before tax will remain within the current range of analysts’ forecasts,” said Paul Moody, chairman of 4imprint. “The board is confident in the group’s ability to navigate current market conditions, delivering the strongest possible near-term financial results while positioning the business to take advantage of opportunities that will present themselves as conditions improve.”

4imprint pointed to strong retention of existing customers and increased market share in an environment where new customer acquisition remains challenging as positives in the report. The distributor said it had 1.05 million total orders in the first half of 2025, compared to about 1.09 million in the first half of 2024. It acquired 125,000 new customers in H1 2025. However, the average order value remained flat compared to the first half of 2024.

“Although revenue was broadly flat, we continued to take market share in a market subject to volatile macroeconomic conditions,” Moody noted in the earnings statement.

4imprint’s half-year performance is trending above the promo industry as a whole, which saw a 3.6% revenue drop in Q1 2025 and a 3.2% decline in Q2.

Operationally, 4imprint reported that, despite the volatility and uncertainty from the Trump administration’s new tariff policies, the distributor experienced minimal impact due to tariffs in the first half of the year, since most of its suppliers had significant inventory. For the remainder of 2025, the distributor anticipates “increased pressure on product cost as inventory is replenished.” However, it doesn’t expect significant stock outages and remains confident about the second half of the year.

Operating a direct-to-buyer e-commerce model, 4imprint is headquartered in London, U.K., but has its main operational footprint in Oshkosh, WI. The company generates the vast majority of its business in North America.

Based on 2024 North American promotional products revenue of $1.34 billion, 4imprint ranked first on Counselor’s most recent list of top distributors in the industry.