International Greetings wraps up strong H1

8th Dec 2010 08:37

Gift wrap and stationery supplier International Greetings more than doubled half year profit while sales rose 13% as it moves confidently into the key Christmas period.Trading has continued in line with expectations since the period end, the group said in a company statement."We expect conditions to remain challenging but are pleased with our progress and excited about the growth opportunities across the international markets in which we operate," it added.Profit before tax increased to £2.1m for the six months ended 30 September 2010 from £1m the year before. Revenue rose to £104.5m from £92.8m previously.UK sales increased 8%, whiles US revenues were 6% down on the year before mainly because of later scheduling of Christmas orders. Mainland Europe saw sales increasing by 8% after a strong performance in Eastern Europe.Artwrap saw like-for-like sales rise by 21%.