For immediate release
8th December 2004

Interim results show continued growth

International Greetings plc ("International Greetings" or "the Group"), the leading designer and manufacturer of private label greetings products and film and television character based licensed stationary, announces today interim results for the six months ended 30 September 2004.

Financial highlights

• Turnover for the period grew 16% to £61.8m (2003: £53.5m)
• Adjusted profit* before tax increased 17% to £6.3m
• Adjusted earnings* per share also increased 17% to 10.5p
• The first full six month contribution turnover from Hoomark, the Group's Netherlands based European subsidiary, was in-line with expectations with an operating profit of £0.4m on turnover of £4.5m
• Excluding Hoomark's results, Group turnover increased by 7% and adjusted profit* before tax improved by 12%
• US$ like-for-like sales up 23% in the US
• Interim dividend up 17% to 1.75p per share (2003: 1.5p)

* excluding amortisation of goodwill of £182,000 (6 months to 30 th September 2003 : £87,000) and exceptional item of £nil (6 months to 30 th September 2003 : £684,000)

Operational highlights

• New long term licence signed with Disney extending geographical coverage and encompassing all the forthcoming Disney film releases, including the recently released blockbuster "The Incredibles"
• Board strengthened with the appointment of Keith James, the former Chairman of Eversheds LLP
• Design teams already working with major retail clients on designs for Christmas 2005

Commenting on the results, Nick Fisher, CEO of International Greetings said:

"I am delighted that we have delivered another strong set of interim results for the Group. Hoomark, the gift wrap manufacturer we acquired last year, has performed well and has strengthened our business in Europe.   Our decision to refocus the US division has been successful, with US$ like-for-like sales up 23%. We are now well into the second half of the year and are optimistic about the full-year's performance."

ENDS

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