International Greetings PLC Pre Close Trading Update (4736Q)
15 Ottobre 2013 - 8:00AM
UK Regulatory
TIDMIGR
RNS Number : 4736Q
International Greetings PLC
15 October 2013
15(th) October 2013
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 is in line with Board
expectations for the current financial year. Notable recent
positive developments include:
-- The Group has achieved a number of volume and efficiency
gains in its Dutch-based giftwrap manufacturing operation. These
gains follow the investment made in state of the art production
facilities during 2012
-- The next phase of this investment programme in Wales is on
track and expected to deliver to time, cost, quality and
efficiency
-- The Group has been officially appointed as Royal Warrant
holders for gift wrap. This appointment is in addition to the Royal
Warrant the Group holds for Christmas crackers
-- Sales through internet based retailers continue to increase
with the introduction of products for sale through Ocado and an
extension of the Tom Smith Christmas range through Amazon
-- The Group's US operation has gained new business with
Canada's largest $1 retail chain and with Mexico's largest
retailer
-- Following the renegotiation of UK based banking facilities
with HSBC on more favourable terms in April 2013, the Group expects
to shortly conclude new improved banking arrangements with SunTrust
in the USA. This new arrangement enhances the existing US facility
and provides flexible finance on more favourable terms.
The Board is confident that the Group remains on track to
deliver against shareholder expectations in the current year and
remains well positioned for the future.
The Group will publish its Interim Results for the six months
ended 30th September 2013 on 4th December 2013
- Ends -
For further information, please contact:
International Greetings plc Tel: 01525 887310
Paul Fineman, Chief Executive
Anthony Lawrinson, Chief Financial Officer
Cenkos Securities plc Bobbie Tel: 0207 397 8900
Hilliam Tel: 020 7831 3113
FTI Consulting Jonathon Brill
Georgina Goodhew
This information is provided by RNS
The company news service from the London Stock Exchange
END
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