International Greetings in line with forecasts

International Greetings reports encouraging progress during the year to the end of March the board has confirmed that overall trading was in line with expectations.

The group says that in particular, its focus on leverage and overall debt reduction has produced an outcome ahead of current market expectations. And it says investments in capital projects, which shall create important future efficiencies in manufacturing operations, have proceeded on time and on budget. It adds: "The advantage of the group's diverse revenue streams and geographic spread to combat varying market conditions, has again been demonstrated this year.

"During the period, the group experienced excellent growth within our European business, whilst extreme weather conditions during the winter in the USA provided unprecedented challenges in an otherwise pleasing trading environment."

At 8:27am: (LON:IGR) International Greetings PLC share price was +4.5p at 75p

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