International Greetings revenue rises 13%

29th Jul 2009 09:00

Greetings card group International Greetings said full year revenue from continuing operations increased by 13.1% and it eyes a return to profitability in 2009/10.The group, which makes gift wrap, crackers, cards, stationery and accessories, said however its expect market conditions to remain challenging. Loss from continuing operations, before significant items and tax narrowed to £0.3m from a loss of £8.1m before. Revenue increased to £216.9m from £191.7m.Commenting on the results, CEO Paul Fineman said, "I believe we can return to profitability and achieve significant further progress in 2009/10.""We are encouraged by our performance during the initial trading months of the new financial year and the order book. We believe we can return to profit as we continue to focus on integrating and consolidating our businesses."An interim dividend was not paid to shareholders during the year and no final dividend is proposed.