29th Jan 2014 10:51
LONDON (Alliance News) - International Greetings PLC Wednesday said it performed well over the Christmas period, and trading over the third quarter was in line with expectations.
The gift packaging and greetings card manufacturer said its debt levels were lower than expected during the period, and it has increased capital expenditure to deliver fast payback future benefits.
International Greetings also said its various investment projects to improved efficiencies in manufacturing operations are proceeding on time and on budget.
The projects include improvements in Wales, with initial production using new high definition presses scheduled for Spring, as well as new automated case packing equipment in the US, and enhanced semi automated processes in China. It said its growing gift bag sales will be supported by enhanced gift bag manufacturing capability within its existing facility in China.
Shares in the company were trading 3.7% higher Wednesday morning, at 77.25 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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