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28 Oct 2010 07:00
28th October 2010
International Greetings PLC
Trading Update
International Greetings PLC, one of the world's leading designers, innovators and manufacturers of gift wrap, crackers, cards, stationery and accessories, announces the following trading update.
Sales in the first half year to 30th September 2010 have grown, in line with market expectations.
Our portfolio of licences continues to provide considerable commercial appeal and as anticipated Toy Story 3 licensed products proved to be extremely successful.
Everyday greeting card sales have grown significantly during the period, largely as a result of commencing trading with two of the UK's leading multiple grocery chains.
The Group continues to focus on improving efficiencies across its factories and increasing sales across the international markets in which it operates.
Management's focus on debt reduction continues. Notwithstanding the Group's debt tends to peak at the end of September each year, Group debt was down 14.6% to £86.4 million from £101.2m million at 30th September 2009.
The Board remains confident that the Group is well positioned for future growth.
International Greetings will be releasing its interim results for the half year to 30th September 2010 on 8th December 2010.
- Ends -
For further information, please contact:
| ||
International Greetings plc Paul Fineman, Chief Executive Sheryl Tye, Finance Director
| Tel: 01707 630617 | |
Arden Partners plc Richard Day Fred Walsh
| Tel: 020 7614 5917 | |
Financial Dynamics Jonathon Brill Caroline Stewart
| Tel: 020 7831 3113 |
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