Trading Statement
October 28 2010 - 2:00AM
UK Regulatory
TIDMIGR
RNS Number : 1300V
International Greetings PLC
28 October 2010
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
GBP86.4 million from GBP101.2m 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 | | Tel: 01707 630617 |
| Paul Fineman, Chief Executive | | |
| Sheryl Tye, Finance Director | | |
| | | |
+-------------------------------+--------+--------------------+
| Arden Partners plc | | Tel: 020 7614 5917 |
| Richard Day | | |
| Fred Walsh | | |
| | | |
+-------------------------------+--------+--------------------+
| Financial Dynamics | | Tel: 020 7831 3113 |
| Jonathon Brill | | |
| Caroline Stewart | | |
| | | |
+-------------------------------+--------+--------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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