Updates

International Greetings - "Everything but the cake"

January 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

International Greetings’ H1 showed sales up 7% to £119.8m, pretax profit up 32% to £5.2m and eps up 33% to 6.4p. Net debt at the period end reduced from £90m to £78m helped by some customers in the USA and UK taking delivery of Christmas product ranges earlier than in the previous year. There was also a return to the dividend list with a maiden payment of 0.75p.All regions traded profitably. The US was a standout following the appointment of a new management team in April. Sales were up 20% to £35.8m and operating profit doubled to £2.2m helped by new “everyday product” categories, which are less commoditised than Christmas product. Chief executive Paul Fineman notes that new gi ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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