Trading Update

RNS Number : 3677F

International Greetings PLC

24 April 2014

 



24^th April 2014

INTERNATIONAL GREETINGS PLC

('International Greetings' or 'The Group')

Trading Update

International Greetings Plc, one of the world's leading designers, innovators and manufacturers of gift packaging, greetings, stationery and creative play products is pleased to today announce a trading update in relation to the 12 months ended 31 March 2014.

The Group's progress during the year has been encouraging and the Board is pleased to confirm that overall trading was in line with expectations. In particular, our focus on leverage and overall debt reduction across the Group has produced an outcome ahead of current market expectations.

Investments in capital projects, which shall create important future efficiencies in manufacturing operations, have proceeded on time and on budget.

The advantage of the Group's diverse revenue streams and geographic spread to combat varying market conditions, has again been demonstrated this year. During the period, the Group experienced excellent growth within our European business, whilst extreme weather conditions during the winter in the USA provided unprecedented challenges in an otherwise pleasing trading environment.

We are pleased with the development of our order book in the current year. This reflects the increasingly closer ties that we have nurtured with our growing global customer base, our focus on excellent customer service and an innovative, commercially successful product offering.

- 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

 

 

TSTSEDFMDFLSESL