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For immediate release
8 December 2003
First Half Profits Increase by 24*% at International Greetings
Company confident for full year
Dividend up 15%
International Greetings PLC, the leading designer and manufacturer
of private label greetings products and licensed stationery, today
announced interim results for the six months ended 30 September 2003.
Highlights:
Turnover up 9% to £53.5m (2002 : £49.0m)
Pre-tax profits up 24% to £5.3*m (2002 : £4.3m)
Basic earnings per share up 24% at 8.8*p (2002 : 7.1p)
Acquisition of Hoomark leads development into continental Europe
Licensed Christmas decorations business established
Company optimistic for full year
Interim dividend up 15% at 1.5p (2002 : 1.3p)
*excluding exceptional item of £684,000 for costs relating to start
up of licensed Christmas decorations business
Nick Fisher, Joint Chief Executive commented:
"In the first half we have seen a strong underlying performance
from our core business and the trading outlook remains good. We are
optimistic about the full year."
"The Hoomark acquisition provides us with a strong platform to
develop the continental European market, where we see substantial
potential. We are delighted to have further strengthened our relationship
with Disney with the acquisition of its pan-European licence for
character Christmas decorations. We are excited by both these developments."
ENDS
For further information, please contact:
Nick Fisher, International Greetings
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01707 630630
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Richard Sunderland/Tim McCall, mj2 ltd
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020 7491 7776
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Graeme Cull, Arden Partners
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0121 423 8960
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