Pre Close Trading Statement
28 Abril 2010 - 3:00AM
UK Regulatory
TIDMIGR
RNS Number : 9060K
International Greetings PLC
28 April 2010
28 April 2010
Pre Close Trading Statement
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, before going into its close period for the year
ended 31 March, 2010.
Both sales and profitability are in line with market expectations.
Management have continued to positively address net debt, and at GBP48.8m this
shows a GBP19.7m (29%) improvement compared to March, 2009.
Commenting on the Group's performance in the period, Chief Executive, Paul
Fineman, said:
"We have restructured and reorganised our business, and we continue to make good
progress across the operations. We have returned to profit,
significantly reduced debt and put in place a strategy to deliver profitable
growth. We are encouraged and positive about the Group's future prospects.
"To support our next phase of development, we are delighted to announce that
John Charlton will be joining the Board as non-executive Director. John is the
former Senior Vice President International of American Greetings Corporation and
Chief Executive of UK Greetings Limited, where he gained an extensive knowledge
of the greetings card and giftware markets."
It is anticipated that Full year results will be announced at the end of June.
- Ends -
+-------------------------------+--------+--------------------+
| 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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