Interim Results
29 Janeiro 2001 - 5:00AM
UK Regulatory
RNS Number:9332X
International Greetings PLC
29 January 2001
Pre-tax profits up 9%
Continued growth in US operations
Harry Potter merchandise launch
Positive outlook for 2001
International Greetings PLC today announced interim results for
the six months ended 30 September 2000. The company has also
announced it will be producing merchandise based on Harry Potter
in the UK for its key Christmas product categories and for
children's stationery and back-to-school bag products.
International Greetings is one of the world's leading
manufacturers of gift wrapping paper, gift accessories, greeting
cards and crackers and is the UK's leading supplier of private
label greetings products to major High Street multiples. It also
manufactures character greetings and stationery products for a
range of children's characters under licence from Disney, Mattel,
Hasbro and Warner Bros.
Highlights for the period included:
* Turnover up 14%, at #37.9m (1999: #33.2m)
* Pre-tax profits up 9% at #2.7m (1999:#2.4m)
* EPS up 10% to 4.5p (1999: 4.1p)
* US operations fully integrated and performing well
* Interim dividend up 9% to 1.2p per share (1999: 1.1p)
* Positive outlook for Christmas 2001
Commenting on today's results, Nick Fisher, Joint Chief Executive
said:
"The US has continued to perform well and we are confident that
substantial opportunities remain in this market. In the UK,
Christmas sales of our products were strong and the development
of Halloween sales was encouraging. Looking forward we are
excited by the prospects for our Harry Potter merchandise and the
Christmas order levels for 2001 achieved so far."
For further information, please contact:
International Greetings plc 01707 630 630
Nick Fisher, Joint Chief Executive
Grandfield 020 7417 4170
Michael Henman/Laura Foster
CHAIRMAN 'S STATEMENT
I am delighted to report that your company has again produced an
impressive set of results for the six months to 30 September
2000. Total turnover was up 14% at #37.9m, and profit before
taxation was up 9% at #2.7m. Earnings increased by 10% to 4.5
pence per share. The Stephen Lawrence Company, acquired in May
2000, accounted for turnover of #1.2m and made an operating loss
of #0.2m in the period from the date of acquisition to 30
September 2000.
In the UK, we have continued to broaden the successful range of
the Group's products. The Pepperpot business, acquired last
January, has been expanded to include collectable gift products
and the 2001 range has been well received in the market place.
Halloween is another new product area for the Group and in the
year to 31 March 2001 sales of Halloween products will exceed
#1m.
As part of our strategy to develop a portfolio of the most
popular licensed properties, I am pleased to report that we will
be producing merchandise based on Harry Potter in the UK for our
key Christmas product categories and for children's stationery
and back-to-school bag products. The main trade launch will be
in April 2001, and we believe our products will be well received
by fans of these books.
The Group's expanding US operations continue to perform well.
The growth in the business is encouraging and the full
integration of The Stephen Lawrence Company has now been
completed with the new 2001 product range successfully launched.
The growth in the US core business and the transfer of Stephen
Lawrence production to Georgia has resulted in the need to expand
our manufacturing and warehousing facility. Work on a 100,000
square feet extension to our existing facility began in December
2000 and is expected to be completed by April this year. The
strength of the Stephen Lawrence brand, allied with the
acknowledged design, sales and manufacturing reputation of the
group, provides an exciting opportunity to further develop our US
operations.
Our Hong Kong subsidiary, International Greetings Asia, continues
to expand, and accounted for purchases of over US$3m in the 6
months to 30 September 2000. This is expected to increase
significantly over the next couple of years, but the main focus
in the short term is to ensure reliability and quality in the
supply of goods, rather than maximising cost savings. This is an
investment which we are confident will generate significant long
term benefits.
The trend towards later Christmas consumer sales continues. With
retailers' logistics systems becoming more and more sophisticated
and able to handle Christmas deliveries nearer the holiday
period, I am pleased to report that retail sales of our products
met our customers' expectations. Early discussions with customers
in relation to the 2001 Christmas season are also positive and
reflecting this, your board recommends an increased dividend up
9% to 1.2 pence per share. The dividend will be paid on 27
February 2001 to all shareholders on the register on 16 February
2001.
John Elfed Jones CBE DL
Chairman
Group Profit & Loss Account
Six months ended 30 September 2000
Unaudited Unaudited Audited
6 months to 6 months to year ended
30 Sept 2000 30 Sept 1999 31 March 2000
#000 #000 #000
Turnover
Continuing 36,733 33,163 85,542
Acquisitions 1,193 - -
------------------------------------------------------------------
37,926 33,163 85,542
------------------------------------------------------------------
Operating profit/(loss)
Continuing 3,424 3,084 10,288
Acquisitions (156) - -
------------------------------------------------------------------
3,268 3,084 10,288
Profit on disposal
of fixed assets - - 431
Interest payable (615) (645) (1,278)
------------------------------------------------------------------
Profit before taxation 2,653 2,439 9,441
Taxation (826) (766) (2,833)
------------------------------------------------------------------
Profit after taxation 1,827 1,673 6,608
Dividend (489) (447) (1,625)
------------------------------------------------------------------
Retained profit 1,338 1,226 4,983
------------------------------------------------------------------
Earnings per share 4.5p 4.1p 16.3p
Diluted earnings per share 4.4p 4.1p 15.8p
Dividend per ordinary share1.2p 1.1p 4.0p
Note:
1 The figures for the year ended 31 March 2000 are an abridged
version of the published accounts, which have been reported on
without qualification by the auditors, and without any statement
under Section 237 (2) or (3) of the Companies Act 1985, and have
been delivered to the Registrar of Companies.
2 The calculation of earnings per share is based on 40,670,091
(6 months to 30 September 1999: 40,630,091, 12 months to 31 March
2000: 40,631,341) ordinary shares being the average number of
shares in issue during the period. The calculation of diluted
earnings per share is based on 41,980,353 (6 months to 30
September 1999: 41,043,759, 12 months to 31 March 2000:
41,766,923) ordinary shares calculated in accordance with FRS 14.
3 The taxation charge for the six months ended 30 September
2000 is based on the estimated tax rate for the full year.
Ig Design (LSE:IGR)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Ig Design (LSE:IGR)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
