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International Greetings - Net cash jumps to over £10m

August 2004

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.

  • Epic Code:
  • IGR
Record full year results helped propel International Greetings, a manufacturer of  giftwraps and crackers, to a new high of 312.5p, and the shares are now up a pleasing 39% on our main recommendation in January. Excluding the acquisition of Dutch gift-wrap manufacturer, Hoomark, which lost £0.6m in its seasonally weaker period, underlying pretax profit grew 14% to £12.7m, on turnover up 10% to £124.6m, while earnings increased 15% to 21.6p, helped by a lower than expected tax charge.   Net cash rose sharply from £3.4m to £10.3m. The core business in the UK & Europe (90% operating profit) grew sales by 14% to £108m thanks partly to a first time contribution from its pan-European Disney licence f ...

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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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