IGR Ig Design Group Plc

 

TIDMIGR 
 
RNS Number : 9060K 
International Greetings PLC 
28 April 2010 
 

28 April 2010 
 
 
                          Pre Close Trading Statement 
 
 
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, before going into its close period for the year 
ended 31 March, 2010. 
 
Both sales and profitability are in line with market expectations. 
 
Management have continued to positively address net debt, and at GBP48.8m this 
shows a GBP19.7m (29%) improvement compared to March, 2009. 
 
Commenting on the Group's performance in the period, Chief Executive, Paul 
Fineman, said: 
 
"We have restructured and reorganised our business, and we continue to make good 
progress across the operations.  We have returned to profit, 
significantly reduced debt and put in place a strategy to deliver profitable 
growth. We are encouraged and positive about the Group's future prospects. 
 
"To support our next phase of development, we are delighted to announce that 
John Charlton will be joining the Board as non-executive Director. John is the 
former Senior Vice President International of American Greetings Corporation and 
Chief Executive of UK Greetings Limited, where he gained an extensive knowledge 
of the greetings card and giftware markets." 
 
It is anticipated that Full year results will be announced at the end of June. 
 
 
                                  -     Ends - 
 
 
+-------------------------------+--------+--------------------+ 
| For further information,      |        |                    | 
| please contact:               |        |                    | 
|                               |        |                    | 
+-------------------------------+--------+--------------------+ 
| International Greetings plc   |        | Tel: 01707 630630  | 
| Paul Fineman, Chief Executive |        |                    | 
| Sheryl Tye, Finance Director  |        |                    | 
|                               |        |                    | 
+-------------------------------+--------+--------------------+ 
| Arden Partners plc            |        | Tel: 020 7398 1632 | 
| Richard Day                   |        |                    | 
| Colin Smith                   |        |                    | 
|                               |        |                    | 
+-------------------------------+--------+--------------------+ 
| Financial Dynamics            |        | Tel: 020 7831 3113 | 
| Jonathon Brill                |        |                    | 
| Caroline Stewart              |        |                    | 
|                               |        |                    | 
+-------------------------------+--------+--------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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