Pre Close Trading Update

RNS Number : 4341U

International Greetings PLC

16 October 2014

 



16 October, 2014

International Greetings PLC (the "Group")

Pre Close Trading Update

International Greetings PLC, one of the world's leading designers, innovators and manufacturers of gift packaging and greetings, stationery and creative play products, announces the following trading update.

The Board is pleased to confirm trading for the six month period to 30 September is in line with expectations.  The order books in all geographies are pleasing with the Group's net debt reflecting the usual working capital build associated with this in the run up to the Christmas trading period.   

Specific highlights for the period include:

·      The Group's investment programme at its gift wrap manufacturing operations in Wales is nearing completion on time and on budget. The new facility was officially opened by HM The Queen and HRH The Duke of Edinburgh in Spring, 2014.

·      The integration of the Enper business (acquired 1 July 2014) with the Group's Dutch manufacturing operations is fully on track.

·      Excellent customer response to new licensed products, including creative play ranges of 'Frozen' from Disney.

·      UK based customers purchasing Christmas crackers in record volumes. The Group's China based manufacturing facility has provided excellent fulfilment and product standards in this category whilst simultaneously increasing output of gift bags and gift cards.

The Group will publish its Interim Results for the six months ended 30th September 2014 on 3rd December 2014

- Ends-

For further information, please contact:

International Greetings plc                                 Tel: [phone]

Paul Fineman, Chief Executive

Anthony Lawrinson, Chief Financial Officer

Cenkos Securities plc Bobbie Hilliam FTI Consulting Jonathon Brill Georgina Goodhew

Tel: [phone] Tel: [phone]

 

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