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Well done Jolly, i think you first came in at the mid to high 40's so you made a nice profit. Good luck for the future mate.
that's me out
A nice bit of movement today-full year results only about 6 weeks away so we may have yet more to come IMO.
Trading Update International Greetings PLC, one of the world's leading designers, manufacturers, importers and distributors of gift packaging and greetings, stationery and creative play products, is pleased to announce a trading update in relation to the 12 months ended 31 March 2015. Highlights: -- Financial performance ahead of expectations, further enhancing earnings per share -- Significant reduction in leverage -- Target of ratio of year end net debt to EBITDA below two times achieved a year ahead of schedule -- Resumption of dividend payment The Group is pleased to confirm that progress made both during the final quarter and the year has been very encouraging resulting in the Group's financial performance for the year ended 31 March 2015 exceeding current market expectations. The combination of excellent overall operating performance, lower financial costs and an improved mix of tax rates across the Group's global portfolio, will significantly enhance earnings per share. The Group is also delighted to confirm that progress made on debt reduction has been significant, with substantial reductions in working capital achieved. Consequently, the Board's key target to bring the ratio of year end net debt to EBITDA below two times has now been comfortably achieved a year ahead of schedule. As a result of the above and as previously signalled, the Board is pleased to confirm that the Company will return to the dividend list and a final dividend will now be declared in respect of the year ended 31 March 2015. This year our UK and European businesses have delivered strong results; underpinned by yielding savings ahead of schedule as a result of the successful execution of our capital investment programme in the UK and excellent integration of our acquisition of Enper BV in Europe. Both these initiatives have helped compensate the challenging conditions faced by our joint venture in Australia. In the US, whilst top line growth remains strong, there is scope for margin and efficiency improvements. We also announce the appointment of Gideon Schlessinger as CEO of International Greetings USA, following the untimely death last year of his predecessor, Rich Eckman. Gideon brings a wealth of experience in developing businesses with both US and global retailers and will lead a team of enhanced capability in a key region for growth. The Group's businesses are engaged in trading with over 5,000 customers in more than 100,000 retail outlets across 80 countries, providing diverse revenue streams amid varying market conditions. Commenting on the year's performance, Paul Fineman, Group CEO said: "It is particularly pleasing to demonstrate an excellent outcome underpinned by fast pay back on investments recently made whilst having identified further opportunities to drive future progress in all regions."
They are expected to finalise the sale of their old site at Hirwaun in Wales very soon. That will free up millions which could pay down debt. They are clearly doing pretty well so expect good things to come.
A nice tick up lately before the next trading statement which is due in the next week or so, hopefully more to come.
International Greetings PLC 28 January 2015 28(th) January 2015 International Greetings PLC (the "Group") Trading Update International Greetings PLC, one of the world's leading designers, manufacturers, importers and distributors of gift packaging and greetings, stationery and creative play products, announces an update for the third quarter, which covers the Group's key Christmas trading period to 31 December 2014. We are pleased to report that the Group has performed well during the Christmas trading period and results are in line with expectations with all regions trading profitably. The Group is on target to deliver planned EPS growth for the full financial year ended 31 March 2015 in line with the Group's performance over recent years and the Board's stated growth strategy. We are also delighted to report excellent progress across a number of commercial and operational initiatives. In Wales, our new state-of-the-art giftwrap manufacturing facilities were completed on time and to budget and are already producing significant volumes highly efficiently. Our Dutch based operation has achieved record sales and production volumes and has now fully integrated Enper BV which was acquired in June 2014. In the USA, record sales levels were reached with growth across all channels underpinned by successfully managing the short term operational challenges reported at the time of the Interims. The Group's sales of licensed products has included over three million products featuring Disney's 'Frozen' across our gift packaging and creative play categories. Paul Fineman, Chief Executive, said: "We are very encouraged by the Group's overall progress driven by our performance and dedication in providing great service and products to our customers in more than 80 countries. We have achieved this whilst simultaneously transforming our manufacturing platform in the UK and also fully integrating the business we acquired in Holland. Our exciting portfolio of brands and product categories, combined with our competitive position bodes extremely well for the future as we continue to focus on reducing leverage and converting the Group's growing profits into cash".
I'm glad your on board brigstocke, iv'e been wondering for a very long time if i was the only one on this site holding this stock. Good luck to us both....
I don't want you to think you are in this on your own howaboutthatthen ! I have held for years and am as enthusiastic about their chances as you. I'm sure the interims will confirm their continued progress.
A nice price rise today ahead of next weeks half year results-still room for plenty more of the same IMO as undervalued here...
16 October, 2014 International Greetings PLC (the "Group") Pre Close Trading Update International Greetings PLC, one of the world's leading designers, innovators and manufacturers of gift packaging and greetings, stationery and creative play products, announces the following trading update. The Board is pleased to confirm trading for the six month period to 30 September is in line with expectations. The order books in all geographies are pleasing with the Group's net debt reflecting the usual working capital build associated with this in the run up to the Christmas trading period. Specific highlights for the period include: · The Group's investment programme at its gift wrap manufacturing operations in Wales is nearing completion on time and on budget. The new facility was officially opened by HM The Queen and HRH The Duke of Edinburgh in Spring, 2014. · The integration of the Enper business (acquired 1 July 2014) with the Group's Dutch manufacturing operations is fully on track. · Excellent customer response to new licensed products, including creative play ranges of 'Frozen' from Disney. · UK based customers purchasing Christmas crackers in record volumes. The Group's China based manufacturing facility has provided excellent fulfilment and product standards in this category whilst simultaneously increasing output of gift bags and gift cards. The Group will publish its Interim Results for the six months ended 30th September 2014 on 3rd December 2014
We should get a trading update this week-a bit more activity around this last week or so....
Firm to develop creative play and activity formats. Copywrite Designs - which is part of the International Greetings Group - has secured an official licence to produce a full range of Despicable Me creative play and activity products. The firm will launch its collection in December. "Despicable Me is one of the most popular licences out there and we are delighted to be launching a full range of creative play, colouring, sticker and activity formats for later this year," said Helen Webster, group licensing director at Copywrite. Additional items will launch through spring 2015. http://www.licensing.biz/news/read/copywrite-designs-secures-despicable-me-deal/040767
well I hope that is a positive, and hopefully the company will leave the Welsh Assembley alone now that it is doing well. I will buy back in at 40p
The QUEEN and Duke of Edinburgh are officially opening our new print division next Wednesday... http://www.itv.com/news/wales/update/2014-04-22/queen-and-duke-of-edinburgh-to-wales-visit-announced/ The Queen and the Duke of Edinburgh will visit South Wales next week, it has been announced. They will spend two days in Pembrokeshire, Vale of Glamorgan and Caerphilly county on 29 and 30 April. The couple will visit Prince's Gate Spring Water, in Narberth, Picton Castle, Haverfordwest, and Royal Dockyard Chapel, in Pembroke Dock. On Wednesday they will visit Ystrad Mynach and Llantwit Major. Ystrad Mynach that will be us!
Still moving up nicely with the trading statement still to come. Not seen 80+pence for over 2 and a half years.......
Thanks jange for posting the IC article in full-it makes very good reading IMO.......
The business looks much better balanced than it historically has been, debt is falling and investment is delivering the promised margin and profit growth. Add to that a proven management team with a view to deliver double-digit annual EPS growth over three years, coupled with a rating that doesn't reflect these prospects BUT AS ALWAYS DYOR and good luck......
Debt, though, is still too high, with a net debt-to-cash profits ratio at 2.8. However, the ratio has fallen faster than expected and the group is on track to cut it to below two by 2016, at which point dividend payments can re-start. Net debt should start falling materially in March, too, when capital spending has eased back. Macroeconomic pressure on IGR's retail customers also poses a potential risk. That said, it boasts strong relationships with many clients, some dating back two decades, which is a useful tool in a world where retailers are consolidating their supply bases. And judging by the latest results, trading is heading in the right direction - the underlying pre-tax profit was up 8 per cent in the six months to September. Exceptional costs related to investment in manufacturing will dissipate next year as the benefits from these investments start to be come through. As such, management believes it can achieve double digit underlying annual EPS growth over the next three years. Yet the shares, which have doubled since the summer, still trade on just 7 times Edison's underlying EPS forecast of 9.1p for the current financial year dropping to just 6 times the underlying 10.3p the broker has pencilled in for the year to the end of March 2015. That's too low for a company with such good recovery prospects.
Debt arrangements have been renegotiated on better terms and investment in machinery is improving manufacturing efficiency. IGR's gift wrap facility in Europe has a state-of-the-art printing press, while the Chinese cracker-making factory is producing better quality goods more cost-effectively. It's facility in Wales is undergoing renovation, too, and will soon house the latest in high-speed, high-definition printers, set to come on stream this spring. These changes have transformed IGR's manufacturing into a low unit cost, high volume process, which is key to future market, margin and profit growth. Indeed, the benefits from investment in China and Europe last year are already being felt and have significantly boosted margins and profit. This bodes well for the investment in Wales..........
While revellers were busy pulling Christmas crackers a fortnight ago, International Greetings (IGR) was busy counting the pennies. That's because, whether your crakers were bought from M&S, Sainsbury's, Aldi, Asda, or even Costco in Mexico, the chances are they were made by the company - the biggest purveyor of Christmas crackers in the world. But there's more to IGR than just crackers. It also manufactures wrapping paper, gift bags, ribbons, greeting cards, pens and pencils and stationery, supplying more than 100,000 retail outlets across more than 80 countries. The company was in dire straits back in 2007 due to a string of poor management decisions. It suffered three profit downgrades, took on an awful lot of debt and saw its market cap plummet from £240m to £6m in just one year. While the share price has recovered somewhat since the low, the market cap is still small and the wide bid-offer spread is something investors need to be wary of. Since being appointed in 2009, chief executive Paul Fineman has helped to steer the company out of troubled waters. With most of the heavy lifting now complete, the business appears much healthier and poised for a major recovery, which could send its cheap shares soaring. A number of important changes are helping the business. First, focus has been shifted to mass and discount retailers, where "all the action has been", according to Mr Fineman. New sales channels include the Dollar Store chain in the US, shops like Aldi in Europe and Mexico's largest retailer. Global giant Costco is IGR's biggest customer. The company is better balanced, too, having reduced its dependence on the UK over a number of years to its current level of 40 per cent of sales, and sales are now only a little over half Christmas-dependent......
While revellers were busy pulling Christmas crackers a fortnight ago, International Greetings (IGR) was busy counting the pennies. That's because, whether your crakers were bought from M&S, Sainsbury's, Aldi, Asda, or even Costco in Mexico, the chances are they were made by the company - the biggest purveyor of Christmas crackers in the world. But there's more to IGR than just crackers. It also manufactures wrapping paper, gift bags, ribbons, greeting cards, pens and pencils and stationery, supplying more than 100,000 retail outlets across more than 80 countries.
A new corporation video on IG's website... http://www.internationalgreetings.co.uk/CORPORATE%20VIDEO1.html