International Greetings eyes return to profit

Greetings card group International Greetings said first half trading was in line with market expectations and believes it can return to profit in 2009/10. The group, which makes giftwrap, stationery, gift bags and crackers, said while the trading environment overall remains challenging, its order book and deliveries are standing up well."Our focus on debt reduction continues, resulting in group debt at the half year being about 18% less than the previous half year on a like-for-like exchange basis," it said. "Progress continues within the group and we are well positioned for future growth. We continue to believe we can return to profitability in 2009/10."