International Greetings PLC Continued Expansion of USA & Other Export Markets (2775L)

TIDMIGR

RNS Number : 2775L

International Greetings PLC

03 September 2012

3 September 2012

International Greetings plc (the "Company" or the "Group")

Continued Expansion of USA and other export markets

International Greetings today provides an update on its continued expansion into key export markets, including the USA, South America and Africa.

The Board is pleased to announce that the Company has recently started to supply the following customers with a selection of products from its gift packaging, stationery and gift ranges:

   -    the US's largest drugstore chain, with over 7900 stores; 
   -    the US's fastest growing chain of natural foods supermarkets, with over 300 stores; and 
   -    the largest retailer in Latin America, with our new Papercraft(TM) products. 

The Company has also started to supply the US's largest discount variety store group, with over 9,000 stores, with greetings cards.

As reported in the preliminary results of the Company, published on 4 July 2012, the USA operations represent one of the fastest growing divisions of the Group. The USA operations, as reported by the Company, include sales to South America.

In addition to the above, the Company is also pleased to announce significant sales growth in southern Africa, with our global range of Social and Gift stationery products through our expansion of trade with southern Africa's largest non-food retailer, with over 1,100 stores. Sales in Africa are reported by the Company through its UK operations and represent a large growth opportunity for the Company going forward.

Paul Fineman, CEO commented:

"I am pleased to announce this expansion which is in line with the Group's strategy to continue to drive the growth of our export markets and in turn to balance the business by regional sales.

"We are particularly delighted to have secured new blue chip customers in the US and Latin America, one of the fastest growing divisions of the Group, whilst our expansion of trade with an existing customer in southern Africa demonstrates the importance of our focus on excellent standards of customer service and product innovation.

"We are confident that we now have a strong platform in place across our core markets, to further strengthen our market share internationally and drive Group sales and profit growth."

- Ends-

 
 
   For further information, please contact: 
 International Greetings plc      Tel: [phone] 
  Paul Fineman, Chief Executive 
  Anthony Lawrinson, Chief 
  Financial Officer 
 Cenkos Securities plc            Tel: [phone] 
  Bobbie Hilliam 
 
   Arden Partners plc               Tel: [phone] 
   Richard Day 
   Jamie Cameron 
 
   FTI Consulting                   Tel: [phone] 
   Jonathon Brill 
   Caroline Stewart 
   Georgina Goodhew 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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