Card Firm's Business Getting Far Sharper ; Returntoprofitcoupled Withreductionofdebt

Summary

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GIFT wrapping manufacturer International Greetings has seen a recovery plan "bearing fruit" yesterday after reporting a return to profit after a pounds 22.8m loss last year.

The Hengoed-based firm - which is listed on the London Stock Exchange - registered a pre-tax profit of pounds 0.5m and the group also reported a "significant" reduction in net debt by pounds 20m from pounds 68.5m to pounds 48.8m.

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Card Firm's Business Getting Far Sharper ; Returntoprofitcoupled Withreductionofdebt

However, the group took an 8% revenue hit after cutting back on unprofitable operations - which was "in line with expectations". Revenue from continuing operations fell ...

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