Trading Update

 

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: [phone]  | 
| Paul Fineman, Chief Executive |        |                    | 
| Sheryl Tye, Finance Director  |        |                    | 
|                               |        |                    | 
+-------------------------------+--------+--------------------+ 
| Arden Partners plc            |        | Tel: [phone] | 
| Richard Day                   |        |                    | 
| Colin Smith                   |        |                    | 
|                               |        |                    | 
+-------------------------------+--------+--------------------+ 
| Financial Dynamics            |        | Tel: [phone] | 
| Jonathon Brill                |        |                    | 
| Caroline Stewart              |        |                    | 
|                               |        |                    | 
+-------------------------------+--------+--------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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