Trading update & Board changes (8637F)
04 Maggio 2011 - 8:00AM
UK Regulatory
TIDMIGR
RNS Number : 8637F
International Greetings PLC
04 May 2011
4 May 2011
International Greetings PLC
Trading update & Board changes
Trading update
International Greetings PLC, one of the world's leading
designers, innovators and manufacturers of gift wrap, crackers,
cards, stationery and accessories, announces the following trading
update.
Sales and profits in the twelve months ended 31(st) March 2011
are in line with expectations.
The management team has maintained progress in reducing the
Group's year end debt levels; which has continued to reduce and at
the year end was just under GBP45m (2010: GBP48.9m).
During the year, management continued its focus on improving
efficiencies and developing new products and processes across the
Group business, with the launch of every day greetings cards with
two major supermarket chains in the UK and with Australia's largest
discount variety retailer, as well as establishing new revenue
streams through the school fundraising channel in the USA.
The Group will publish its results for the 12 months ended
31(st) March 2011 in early July 2011.
Board changes
Keith James, Chairman, has notified the Board he will be
retiring at the Annual General Meeting on 4(th) August 2011. Keith
has been a member of the Board since 2004 and Chairman since 2006.
The Board would like to thank Keith at this time for his
considerable contribution to the business over the past seven
years.
John Charlton, non-executive Director, will succeed Keith as
Chairman at the Annual General Meeting. John was appointed to the
Board in April 2010, following his retirement from American
Greetings, where he held the position of Senior Vice President
International and Chief Executive Officer of UK Greetings Ltd. John
has held a number of Senior Management positions including CEO of
Consumer Products and Hard Goods for Pentland Group Plc, CEO of GKN
Distributors and CEO of Liden Group Plc. John is currently also
Chairman of South Africa Greetings Corporation (PTY) Ltd and
Chairman of Amscan International Ltd.
- Ends -
For further information, please
contact:
International Greetings plc Tel: 01707 630617
Paul Fineman, Chief Executive
Sheryl Tye, Finance Director
Arden Partners plc Tel: 020 7614 5917
Richard Day
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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