News
September 29, 2020
The recent PPAI Board of Directors election resulted in the approval of the distributor nominee, Noah Lapine, president and owner of distributor Lapine Associates, Inc., who will begin his four-year term in January 2021. However, the supplier nominee did not garner the requisite number of votes for …
September 29, 2020
BIC Graphic North America (PPAI 114187, S13) will be changing its name to Koozie Group, effective January 1, 2021. The Clearwater, Florida-based supplier has operated under the BIC name since 1969 and has owned the Koozie brand since 2009.
September 29, 2020
SAGE and PPAI just wrapped up a successful two-day encore presentation of SAGE Show Virtual, the industry’s largest online event to date. More than 5,300 industry professionals attended the show that featured over 200 virtual booths, on-demand education sessions, a product pavilion and a variety of …
September 29, 2020
InnerWorkings, Inc. stockholders have approved the Chicago, Illinois-based distributor’s merger with HH Global Group Limited. In the merger, first announced in July, InnerWorkings will become a wholly owned subsidiary of HH Global, a global marketing firm headquartered in the UK. The merger is expec…
September 29, 2020
PPAI’s webinar series provides industry professionals with the best tools, practices and actionable ideals that they can use to build up their businesses and expand their skill set. On Thursday, supplier board nominee Andrew Spellman will be answering questions on his skillsets and how they align wi…
September 29, 2020
Reciprocity Road has named Visioning A Greater Racine, serving Racine, Wisconsin, as the latest recipient of its BrandGood grant. The $500 grant from Reciprocity Road, an alliance of 10 distributors located across the U.S and Canada, was voted on by the group’s BrandGood ambassadors and will support…
September 29, 2020
COVID-19’s upending of the business world has many rethinking their attitudes toward traditional offices and workplaces. While data from ratings and review firm Clutch finds that most of the U.S. workforce (55 percent) would feel safe returning to their office amid the pandemic, there are splits on …
September 28, 2020
BIC Graphic North America (PPAI 114187, S13) has announced it will be changing its name to Koozie Group, effective January 1, 2021. The Clearwater, Florida-based supplier has operated under the BIC name since 1969 and has owned the Koozie brand since 2009.
September 24, 2020
The COVID-19 pandemic has made it impossible to stage large, in-person live events like The PPAI Expo 2021 without compromising the health and safety of exhibitors, attendees, participants and the community at large. As first announced today in a PPB Newslink Breaking News alert, PPAI has made the d…
September 24, 2020
American Solutions for Business (PPAI 101656, D12) recently held a virtual trade show, the American PromoShow, with 62 supplier exhibitors and nearly sales associates and team members in attendance. . The six-hour event was produced in partnership with PromoCorner and its proprietary platform, Promo…
September 24, 2020
The Premier Catalog Group has announced the addition of distributor 1338Tryon, Inc. (PPAI 649357, D4), based in Portland, Oregon, and supplier Cap America (PPAI 111597, S10), headquartered in Fredericktown, Missouri, to its partnering network.
September 24, 2020
AIA Corporation (PPAI 101364, D12) held its 2020 National Sales Meeting virtually last week, with more than 250 members of its community attending the online event. Bringing together the Appleton, Wisconsin-headquartered distributor’s owners, employees and suppliers, the meeting featured four days o…
September 24, 2020
Jenifer Siebert, Midwest regional sales manager at supplier Tekweld, passed away on September 21. Siebert was a well-known and beloved professional in the promotional products industry for the past 10 years, working at Alexander Manufacturing for three years before joining Tekweld in December 2018.
September 24, 2020
Tech Week 2020, powered by PPAI Tech Summit, runs through Friday, delivering an extensive range of education sessions presented by experts from inside and outside the industry to promotional products businesses’ IT leaders and professionals. This week, Tech Week’s diverse line-up has included a disc…
September 24, 2020
In this week's episode of the PPAI PromoTalks podcast, "PPB Presents: The Dynamics That Are Changing Buyers’ Businesses," listeners will hear firsthand from two buyers about what’s impacting their businesses and how they’re adapting in the COVID-19 era.
September 24, 2020
The circular economy—an approach to economic development regenerative by design with the aim of gradually disconnecting growth with the consumption of finite resources—will likely play bigger part in supply chain professionals’ thinking. A survey by Gartner found 51 percent of supply chain professio…
September 24, 2020
The Specialty Advertising Association of Greater New York (SAAGNY) elected four industry veterans to serve on the board of directors during its annual meeting this week. All terms begin on January 1, 2021.
September 24, 2020
In light of the COVID-19 pandemic and the challenge in staging a large, in-person live event without compromising the health and safety of exhibitors and attendees, PPAI has made the decision not to host an in-person live PPAI Expo 2021 and transition to a completely virtual live format in January u…
September 22, 2020
Tech Week 2020, powered by PPAI Tech Summit, is going on right now, bringing together the promotional products businesses’ IT professionals and technology leaders for an extensive range of education sessions presented by experts from inside and outside the industry. The programming also allows atten…
September 22, 2020
Promotional Product Professionals of Canada’s (PPPC) Natcon Virtual took place last week. Running September 16-17, the show drew more than 800 attendees for professional development sessions, opportunities to connect with industry colleagues and an extensive trade-show experience.
September 22, 2020
From September 16-17, Promotional Products Professionals of Canada (PPPC) hosted Natcon Virtual, a cybernetic rendition of its annual Natcon event. For two days, professionals were invited to attend a variety of virtual education session, touching on everything from tactical communications to listen…
September 22, 2020
Supplier Selco, LLC (PPAI 113845, S6) has acquired certain assets of Belair Time Corporation, a private label watch supplier to independent jewelry stores founded in 1945. The acquisition began on June 1 and Tulsa, Oklahoma-based Selco has been operating Belair and shipping its orders since late Jun…
September 22, 2020
Ennis, Inc. has issued financial results for its second quarter and the six months that ended August 31, reporting revenues of $86.6 million for the quarter, down 20.4 percent from second quarter 2019’s $108.8 million. Similarly, revenues at the Midlothian, Texas-headquartered company—parent company…
September 22, 2020
Distributor Flywheel Brands, Inc. (PPAI 342144, D7) has joined Reciprocity Road, an alliance of 10 distributors located across the U.S and Canada comprising approximately $230 million in promotional products spending.
September 22, 2020
Proforma (PPAI 196835, D13) recently held its PROmentum Q4 Kickoff Event to provide Proforma owners, sales reps and team members with momentum and motivation to head into fourth quarter 2020. The meeting, which was held virtually on September 15-16, was attended by more than 600 members of the Profo…
September 22, 2020
Barry Hults, MAS, president of Pittsburgh, Pennsylvania-based Hults Consulting, passed away on October 27, 2019. He was 81.
September 22, 2020
PPAI’s Virtual Product Responsibility Summit wrapped up on Friday afternoon, concluding a full week of programming that explored the industry’s most relevant and pressing topics relating to product compliance. This year’s conference marked the 10th anniversary of this popular event.
September 22, 2020
The pandemic is affecting how people use social media and the expectations they have of the platforms. Data from Sprout Social, a provider of social media analytics, engagement and advocacy solutions for business, shows that as the pandemic continues, consumers are turning to social media for the ex…
September 17, 2020
HMTX Industries, an importer of vinyl floor tiles, has filed a lawsuit in the U.S. Court of International Trade. The lawsuit charges that the U.S. Trade Representative's (USTR) office is prosecuting “an unprecedented, unbounded and unlimited trade war impacting over $500 billion in imports from the …
September 17, 2020
The U.S. has pulled back from imposing a 10-percent tariff on Canadian aluminum imports into the country. Last month, President Trump had announced that he would reinstate the tariff, which had been withdrawn in May ahead of the United States-Mexico-Canada Agreement going into effect.
September 17, 2020
PPAI has joined with more than 30 trade organizations representing a broad cross section of U.S. industries and small businesses in a letter to leadership in the U.S. House of Representatives voicing their support for the Paycheck Protection Program Small Business Enhancement Act (H.R.7894). The bi-…
September 17, 2020
The British Promotional Merchandise Association (BPMA) surveyed consumers in the U.K. this summer on their views on promotional products. The study sought to understand the reactions from consumers regarding the promotional items they have received, their views on environmental considerations and ho…
September 17, 2020
PPAI’s Virtual Product Responsibility Summit, which began on Monday, continues throughout the week delivering 13 virtual sessions on the most in-demand topics associated with compliance, vetting supply chains and must-know guidance on personal protective equipment. Each day concludes with roundtable…
September 17, 2020
In July and August, 103 industry professionals invested in their professional development and earned their Certified Advertising Specialist (CAS) and Master Advertising Specialist (MAS) certifications. Several people climbed multiple rungs of the ladder over the last two months, earning both certifi…
September 17, 2020
Consumers’ expectations remain weak but their overall level of pessimism about their households’ financial situation continues to decline. The Federal Reserve Bank of New York's Center for Microeconomic Data has released its August 2020 Survey of Consumer Expectations. It shows home price growth exp…
September 15, 2020
PPAI’s Virtual Product Responsibility Summit kicked off on Monday, beginning a week of insightful virtual sessions examining product safety and regulatory compliance in the promotional products industry from numerous angles. Summit has drawn more than 140 registered attendees, and Monday’s programmi…
September 15, 2020
U.S. Customs and Border Protection (CBP) moved forward with orders on Monday that would block some imports of cotton, apparel, hair products, computer parts and other goods from China’s Western Xinjiang region over forced labor concerns.
September 15, 2020
Supplier Orbus Exhibit & Display Group (PPAI 428128, S7) has acquired Fabric Images, an Elgin, Illinois, company known for its fabric architecture design and expertise. The merger joins Fabric Images’ capabilities with Woodridge, Illinois-headquartered Orbus’ service, quality, print capability and e…
September 15, 2020
Lyndon Leslie “Lindy” Pearson, a veteran promotional products executive, former PPAI board member and Counselor’s 1998 Person of the Year, passed away on September 10. He was 90.
September 15, 2020
PPAI’s Board of Directors election is entering its final week. Nominees for the Board of Directors are proposed as a slate and confirmed by the membership through an election. The voting member of each company is asked to cast a vote by Tuesday, September 22.
September 15, 2020
Approximately one-third of U.S. companies (35 percent) do not know when they will reopen their workplace. The data comes from The Conference Board, which surveyed companies on their reopening plans and strategies.
September 15, 2020
Boost Engagement, the Dayton, Ohio-based parent company of distributor Shumsky (PPAI 108541, D10), Boost Rewards and Outta The Box brands, has been named one of 2020’s Healthiest Employers by the Dayton Business Journal. Now in its 10th year, the recognition seeks out area companies that have create…
September 10, 2020
U.S. Customs and Border Protection (CBP) has reportedly prepared orders that would block cotton, tomatoes and certain other imports from China’s Western Xinjiang region over forced labor concerns, and an official announcement could come as soon as this week.
September 10, 2020
Promotional Products Education Foundation (PPEF), the industry’s nonprofit dedicated to recognizing and encouraging scholastic excellence and academic performance among promotional products industry employees and their college-aged children, has launched a new logo and brand identity. The new look f…
September 10, 2020
The upward momentum of U.S. job growth continued in August. The Conference Board’s Employment Trends Index (ETI) ticked upward last month, following earlier increases in May, June and July. The index now stands at 52.55, up from 51.37 in July. However, the index remains well down from its year-ago l…
September 10, 2020
Data on small businesses from referral network Alignable suggests most retailers (69 percent) fear a disappointing fourth quarter, and one in three worry about having to shut their doors by the end of the year. Retail represents one of the top markets for promotional products with distributor sales …
September 10, 2020
Kairos Promotional Agency, LLC (PPAI 622054, D1), in Troy, Michigan, has announced its new name and a rebrand focused on assisting companies looking for a consistent approach in promotional products to showcase their brands. Founded in 2014 as Marali Promotional Products, owner Alisa Coleman, MAS, s…
September 10, 2020
AIA Corporation (PPAI 101364, D12) has added seven distributors—Brandify Promos, Go Fish Promotions, Great Ideas!, Hoopla Marketing Merchandise, Metromarketing Services, Inc., Salt Services and Sense, Inc.—to the Appleton, Wisconsin, distributor’s community of nearly 300 independent owners and more …
September 10, 2020
Hear what it’s like to serve on PPAI’s Board of Directors and learn more about this year’s board candidates in the latest episode of PromoTalks: PPB Presents: Meet The PPAI Board Candidates. Moderated by Paul Bellantone, CAE, president and CEO of PPAI, this 46-minute podcast episode offers a look in…
September 10, 2020
What will drive technological innovation over the next decade? Research and advisory company Gartner has identified five emerging trends it expects to have an outsized impact—“digital me,” composite architecture, formative AI, algorithmic trust and beyond silicon.
September 08, 2020
Boston-based supplier HPG has acquired Eagan, Minnesota, supplier Webb Company (PPAI 143213, S8) in a deal finalized August 31. The acquisition expands HPG’s reach into the fast-growing personal care segment of the North American promotional products industry.
September 08, 2020
The U.S. Senate may vote soon on a coronavirus relief package following several weeks of talks between Senate Republicans and the White House. Senate Majority Leader Sen. Mitch McConnell may push for an initial vote as soon as Thursday.
September 08, 2020
Proforma’s (PPAI 196835, D13) Owner Advisory Council (OAC)—member-owners elected each year to represent their geographical regions—recently held its annual planning meeting with Proforma’s top executive team members. Historically attended in person, most council members chose to attend this year’s m…
September 08, 2020
HanesBrands has announced the kickoff of its Crop to Campus initiative, a third-party behind-the-scenes look at what goes into a responsibly made t-shirt. Winston-Salem, North Carolina-based HanesBrands invited three university students to follow the supply chain of its ComfortWash apparel line and …
September 08, 2020
In this week's episode of the PPAI PromoTalks podcast, "PPB Presents: Meet The PPAI Board Candidates," Paul Bellantone, CAE, president and CEO of PPAI, moderates a discussion on industry leadership with 2020 board candidates Alan Tabasky, vice president and general manager of BEL Promo and Noah Lapi…
September 08, 2020
The U.S. business-to-business (B2B) advertising market has fared pretty well during the COVID-19 pandemic and according to data from eMarketer, is also growing. In 2020, U.S. B2Bs will spend $8.14 billion on digital ads, up 22.6 percent from 2019, when they allocated $6.64 billion to digital adverti…
September 03, 2020
Forced labor and potential human rights violations in the supply chain remain a legitimate concern for businesses. PPAI’s upcoming Virtual Product Responsibility Summit, September 14-18, will explore this important issue along with a diverse range of other pressing business implications, challenges …
September 03, 2020
As of August 30, UPS China-U.S. parcel surcharges have increased by 30 percent. The carrier says the peak surcharges on shipments from Hong Kong and mainland China to the U.S. will last until further notice.
September 03, 2020
The Canada Emergency Business [Loan] Account (CEBA) program has been extended to October 31 and will soon be expanded to include businesses with personal banking accounts. The CEBA program provides interest-free loans of up to $40,000 to small businesses and nonprofits to help mitigate revenue impac…
September 03, 2020
Branded merchandise is coming to TikTok in a partnership with commerce platform Teespring. Content creators on the video-sharing app will be able to sell their own branded products through the site.
September 03, 2020
PPAI’s 2020 board election opened on September 1 and runs through September 22. The nominees for the board class of 2025 are Alan Tabasky, vice president and general manager of Medley, Florida, supplier BEL Promo, and Noah Lapine, president and owner of Stamford, Connecticut, distributor Lapine Asso…
September 03, 2020
Ironically, as America readies for Labor Day weekend, a festive observation often celebrated with backyard barbecues, picnics and craft beer, most Americans report feelings of burnout (58 percent), and even more so than during the earlier days of the COVID-19 pandemic (45 percent).
September 03, 2020
The Arizona Promotional Products Association (AzPPA) has named Laura Munari to be its new executive director, effective immediately. She replaces Betsy Andrade, MAS, who is retiring.
September 03, 2020
The Gold Coast Promotional Products Association (GCPPA) is hosting its PromoCon end-user show on October 6 in Oakland Park, Florida. While the show will be held in person, the regional association is offering virtual options for distributors and exhibitors as well.
September 03, 2020
Three Rivers Advertising Specialty Association (TRASA) held its first outdoor show on September 2 in Washington, Pennsylvania.
September 01, 2020
Henrik Johansson, co-founder and CEO of Austin, Texas-based distributor Boundless (PPAI 267078, D11), has stepped down to join Austin-based Gembah as CEO. The company helps entrepreneurs, ecommerce sellers and small-to-midsize businesses research, design and manufacture products. Bridget Smith, chie…
September 01, 2020
Communicorp, a Columbus, Georgia-based distributor, in cooperation with the Consumer Product Safety Commission (CPSC), has issued a recall of plush Aflac “Doctor Ducks” due to a violation of the federal lead content ban.
September 01, 2020
Consumer sentiment continued its downward slide in August. The Conference Board Consumer Confidence Index decreased last month following an earlier decline in July. It now stands at 84.8, down from 91.7 in July.
September 01, 2020
Proforma (PPAI 196835, D13) has launched a series of webinars, New Days, New Ways, as a sequel to the Cleveland, Ohio, distributor’s original Rise & Thrive webinar series. The Rise & Thrive series, introduced in March 2020, included more than 100 webinars focused on helping members pivot and innovat…
September 01, 2020
PPAI’s webinar series provides industry professionals with the best tools, practices and actionable ideal that they can use to build up their businesses and expand their skill set. Association webinars in the coming weeks include a look at the latest in hat personalization trends; finding success by…
September 01, 2020
Facilisgroup (PPAI 493664), a company that provides a software-as-a-service-based (SaaS) platform for promotional products distributors, has documented the many ways its partners have stepped up to support their communities during the COVID-19 pandemic.
September 01, 2020
At the beginning of the year, PAN Communications shared its third annual CMO Predictions report, featuring industry leaders’ expectations of what the marketing landscape would look like in 2020 and upcoming challenges and trends. Saying that the situation has changed since then would be an understat…
August 27, 2020
Speaker Nancy Pelosi and White House Chief of Staff Mark Meadows are expected to resume discussions on the coronavirus relief package today. This will be the first set of negotiations on the issue since August 7.
August 27, 2020
On Wednesday night, Hurricane Laura ripped into Southeast Louisiana with wind gusts of 150 miles per hour. It was the strongest storm to hit the state in 160 years.
August 27, 2020
California’s Office of Environmental Health Hazard Assessment (OEHHA) has proposed an amendment to Proposition 65 regarding acrylamide produced by cooking certain foods. The amendment, Section 25505 Exposures to Listed Chemicals in Cooked or Heat Processed Foods, would establish that consuming these…
August 27, 2020
Starline USA (PPAI 112719, S10) has announced that beginning January 2021, the Grand Island, New York-based supplier will become the exclusive supplier of the uni-ball brand to the promotional products industry.
August 27, 2020
On Wednesday, PPAI President and CEO Paul Bellantone, CAE, released his latest video on the state of the Association and its programs. Joining the conversation in this video was Tina Berres Filipski, PPAI’s director of publications, and David Natinsky, MAS, president of SAGE, PPAI's Power of Two par…
August 27, 2020
PPAI’s webinar series provides industry professionals with the best tools, practices and actionable ideals that they can use to build up their businesses and expand their skill set. Association webinars in the coming weeks include an opportunity to learn more about the 2020 board nominees, a live se…
August 27, 2020
The National Federation of Independent Business (NFIB) has released its latest COVID-19-related survey assessing the health crisis’ impact on small businesses. It reports that about one-in-five (21 percent) small businesses say they will have to close their doors if economic conditions don’t improve…
August 25, 2020
Last week, PPAI announced the slate for its 2020 PPAI board election. The two nominees for the board class of 2025 are Alan Tabasky, vice president and general manager of Medley, Florida, supplier BEL Promo, and Noah Lapine, president and owner of Stamford, Connecticut, distributor Lapine Associates…
August 25, 2020
On Tuesday morning, Tropical Storm Laura strengthened into a hurricane in the Gulf of Mexico as it moved toward the Texas-Louisiana gulf coast. The hurricane is expected to intensify and could make landfall late late Wednesday or early Thursday bringing damaging winds, storm surge and heavy rain al…
August 25, 2020
The U.S. economy showed signs of growth in July, although at a slower pace than in May and June. The Conference Board’s Leading Economic Index (LEI) for the U.S. increased 1.4 percent in July to 104.4, following increases of three percent in June and 3.1 percent in May.
August 25, 2020
Delta Apparel, Inc. (PPAI 188431, S9), based in Greenville, South Carolina, has released its sales results for the month of July. The supplier’s net sales grew more than 10 percent compared to the same period last year, with growth in each of its business units. The Delta Group and Salt Life segment…
August 25, 2020
Gildan Activewear Inc. (PPAI 250187, S13) has released its 16th Environmental, Social, and Governance (ESG) report, prepared in accordance with the Global Reporting Initiative standards. The 2019 ESG report showcases the Montreal, Quebec-headquartered supplier’s approach and commitment to ESG, inclu…
August 25, 2020
Ida Cooper, co-founder of Island Pen, now part of Bullet, passed away on August 12. She was 89.
August 25, 2020
Despite the disruptions of the COVID-19 pandemic, travel remains on the minds of many. In its latest travel intelligence report, MMGY Global, a marketing company specializing in the travel, tourism and hospitality industries, found that 64 percent of travelers expect to take a leisure trip within th…
August 20, 2020
This year, when it wasn’t possible to deliver the annual in-person trade show in Irving, Texas, SAGE produced its first virtual show on August 18 showcasing more than 200 exhibiting companies along with 14 pre-recorded education sessions produced by SAGE and PPAI. The show drew more than 4,000 atten…
August 20, 2020
Promotions East returns to the Specialty Advertising Association of Greater New York (SAAGNY). Operating for the past several years as Expo East in Atlantic City, New Jersey, and before that as Promotions East, the show serving the Northeast is rejoining SAAGNY’s calendar of events.
August 20, 2020
This year marks a major change for industry trade shows, with many in-person events being held virtually to ensure a safer experience due to the pandemic. The first-ever SAGE Show Virtual on August 18 featured hundreds of suppliers showcasing the latest in trending products, including PPE, with supp…
August 20, 2020
Businesses across the country are wrestling with how best to handle returning to the office as businesses reopen. For 60 percent of the companies surveyed by ratings and review firm Clutch, masks will be part of employees’ new dress code.
August 18, 2020
PPAI announces the slate for its 2020 PPAI board election. The two nominees for the board class of 2025 are Alan Tabasky, vice president and general manager of Medley, Florida, supplier BEL USA, and Noah Lapine, president and owner of Stamford, Connecticut, distributor Lapine Associates, Inc. The PP…
August 18, 2020
Promotional products businesses have long been listed in Inc. magazine’s annual Inc. 5000 ranking of the country’s fastest-growing private companies, and 2020 is no exception.
August 18, 2020
In the COVID-19 pandemic, personal protective equipment (PPE) has become part of daily life, and many promotional products distributors and suppliers have pivoted to add the category to what they offer their customers. PPE’s ubiquity in daily life has also made it a prime candidate for brands’ messa…
August 18, 2020
World Emblem has donated face masks to two homeless shelters serving the metro Atlanta area. Since 2018, the Hollywood, Florida-headquartered supplier has served the promotional products market through a partnership with Sterling Heights, Michigan, supplier Stahls’ (PPAI 782143, S3).
August 18, 2020
COVID-19 is likely to have a profound and lasting effect on shoppers’ behavior, even after the pandemic has passed. A global study by experiential advertising agency Momentum Worldwide found several changes brought about by the pandemic that it expects to persist going forward.
August 18, 2020
The Ohio Promotional Professionals Association (OPPA) recently held its fourth Sales Safari at Kalahari at the Kalahari Resort & Conference Center in Sandusky, Ohio. The August 4-5 show was one of the first live events held in the promotional products industry during the COVID-19 pandemic, and the r…
August 13, 2020
ASL Global (PPAI 625218, D11) has appointed Jessica Warwick its new vice president for the North America region. This new role was recently created as part of the Hong Kong-based distributor’s growth strategy for the region. The company has teams in 36 countries serving clients in more than 200 mark…
August 13, 2020
Jason Lucash, co-founder of supplier Origaudio (PPAI 421483, S7) and now senior vice president of marketing and innovation at HPG, has introduced a new brand to the food gift category with the official launch of his latest venture within the HPG family: Batch & Bodega. The new brand, shipping from H…
August 13, 2020
Supplier Gemline (PPAI 113948, S11) has announced a strategic partnership with Chicago, Illinois-based gardening brand Modern Sprout that brings its sustainable indoor and outdoor gardening products to the promotional products market.
August 13, 2020
4imprint Group PLC, parent of Oshkosh, Wisconsin-based distributor 4imprint (PPAI 107200, D16), has released its financial results for the first half of 2020, reflecting the impact of the COVID-19 pandemic on its business. The company reported revenues of $265.8 million for the half, down 34 percent…
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