International Greetings PLC Trading Update (0984M)
January 18 2016 - 2:00AM
UK Regulatory
TIDMIGR
RNS Number : 0984M
International Greetings PLC
18 January 2016
18 January 2016
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 2015.
The Group is pleased to report that following the strong
performance reported over the first six months ending 30 September
2015, trading has continued to be strong during the Christmas
period. Results remain in line with expectations with all regions
trading profitably. We are therefore confident that the Group is on
target to deliver EPS growth for the full financial year ended 31
March 2016 in line with expectations.
During the year significant progress has been made across a
number of commercial and operational initiatives:
-- In Wales and Holland, our new state-of-the-art giftwrap
manufacturing facilities have enabled us to produce high volumes
very efficiently, with return on investment in line with our
business plans.
-- Our operation in China has performed very well throughout the
year and continues to enhance capability across all of its product
categories.
-- In the USA, record sales levels were reached with growth
across all channels together with an expansion of export activities
to Canada, Mexico and Brazil.
-- We have seen significant growth of our market share in
Australia where our 'Celebrations' product offering has
successfully broadened to include a comprehensive party ware
offering.
-- Sales performance during the Autumn/Winter period of the
Group's licensed product portfolio featuring the Star Wars
franchise and the popular 'Minions' as well as 'Frozen' ranges,
includes sales to new licensed territories in addition to new
customers and channels.
Paul Fineman, Chief Executive, said:
"The Group's overall progress is very encouraging and reflects
our focus on providing great products, design and service to our
customers around the world.
The recent years of investment in people and in fast pay-back
capital equipment provide a strong foundation for continued
progress across all fronts. Our results and on-going focus on
converting profit into cash underpins our ability to provide
increasing dividends to shareholders."
-Ends-
For further information, please contact:
International Greetings plc Tel: 0152 588 7310
Paul Fineman, Chief Executive
Anthony Lawrinson, Chief Financial Officer
Cenkos Securities plc Tel: 0207 397 8900
Bobbie Hilliam
FTI Consulting Tel: 0203 727 1000
Jonathon Brill
Tom Hufton
This information is provided by RNS
The company news service from the London Stock Exchange
END
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