Profits improve for Clinton Cards

Figures are for the 52 weeks to the 29th July. Strong growth in comparable adjusted operating profit nearly doubled to £20.9m and net debt reduced by £22.2m to £61.9m.

The company's store portfolio rationalisation is continuing - there were 73 fewer stores in period with another, with the majority of store closures in the Birthdays brand. A further 40 plus stores are planned to close by the end of July 2008.

Don Lewin, Chairman commented,'The combination of trading conditions, a focus on controlling costs and improved product margins, together with store rationalisation, was reflected in significantly improved profits. Trading in both brands has increased on last year and whilst conditions on the high street remain challenging we believe the Group will make further progress in the current period.'