Trading Update

RNS Number : 3110D

International Greetings PLC

28 January 2015

 

28^th January 2015

International Greetings PLC (the "Group")
Trading Update

International Greetings PLC, one of the world's leading designers, manufacturers, importers and distributors of gift packaging and greetings, stationery and creative play products, announces an update for the third quarter, which covers the Group's key Christmas trading period to 31 December 2014.

We are pleased to report that the Group has performed well during the Christmas trading period and results are in line with expectations with all regions trading profitably. The Group is on target to deliver planned EPS growth for the full financial year ended 31 March 2015 in line with the Group's performance over recent years and the Board's stated growth strategy.

We are also delighted to report excellent progress across a number of commercial and operational initiatives.

In Wales, our new state-of-the-art giftwrap manufacturing facilities were completed on time and to budget and are already producing significant volumes highly efficiently.

Our Dutch based operation has achieved record sales and production volumes and has now fully integrated Enper BV which was acquired in June 2014.

In the USA, record sales levels were reached with growth across all channels underpinned by successfully managing the short term operational challenges reported at the time of the Interims.

The Group's sales of licensed products has included over three million products featuring Disney's 'Frozen' across our gift packaging and creative play categories.

Paul Fineman, Chief Executive, said:

"We are very encouraged by the Group's overall progress driven by our performance and dedication in providing great service and products to our customers in more than 80 countries.

We have achieved this whilst simultaneously transforming our manufacturing platform in the UK and also fully integrating the business we acquired in Holland.

Our exciting portfolio of brands and product categories, combined with our competitive position bodes extremely well for the future as we continue to focus on reducing leverage and converting the Group's growing profits into cash".

- 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

FTI Consulting                                                 Tel: [phone]

Jonathon Brill

Georgina Goodhew        

 

END

 

 

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