Trading Update
12 Février 2010 - 8:00AM
UK Regulatory
TIDMIGR
RNS Number : 0479H
International Greetings PLC
12 February 2010
12th February 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 a trading update for the 10 months ended 31st January 2010.
Progress continues within the Group, having completed a successful Christmas
trading season, and sales for the 10 months are in line with market
expectations. Customer sell-through was strong and we maintained high levels of
customer service. We were pleased to further strengthen our business in the
growing discount and value retail market.
Debt during the peak borrowing period was kept both well under control and well
within the bank facility, and is now reducing ahead of market expectations. We
remain focused on strengthening our ability to generate cash through driving
operational improvements.
The Group continues to be well positioned for future growth, and expect the year
end PBT to be in line with market expectations.
International Spring Fair
At the International Spring Fair 2010 at the Birmingham, NEC, orders taken were
at an all time record for the Group. Commenting on the success at the Fair,
Group Chief Executive, Paul Fineman, said:
"We are delighted to have achieved record sales levels at the Fair and a very
encouraging response to our innovative new product ranges. For the first time,
our Group's manufacturing business in China was represented, and has established
direct links with customers in the USA, Europe and the UK. This further
enhances our competitive position, supported by the Group's worldwide design,
customer support and logistics facilities."
The Company will give a pre-close trading update for the full year ended 31st
March 2010 in April 2010.
+-------------------------------+--------+--------------------+
| For further information, | | |
| please contact: | | |
| | | |
+-------------------------------+--------+--------------------+
| International Greetings plc | | Tel: 01707 630630 |
| Paul Fineman, Chief Executive | | |
| Sheryl Tye, Finance Director | | |
| | | |
+-------------------------------+--------+--------------------+
| Arden Partners plc | | Tel: 020 7398 1632 |
| Richard Day | | |
| Colin Smith | | |
| | | |
+-------------------------------+--------+--------------------+
| 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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