Group operating profits improve for Clinton Cards plc
Positive preliminary results for the 52 weeks ended 1 August 2010 but the company remains cautious over consumer spending
Group adjusted operating profits increased by 3.8% to £16.2m (2009: £15.7m). The Clinton brand like for like sales for the full year increased by 0.7%, achieved despite weakening footfall in the last quarter. The Group’s adjusted operating profit improved by £0.7m to £17.8m (an increase of 4.4% over last year).
The restructuring of Birthdays is now complete and sales at Birthdays UK increased by 5.4% in the 10 weeks to 10 October 2010.
Don Lewin, OBE, Chairman commented, "We believe the initiatives we have undertaken will leverage the Clinton brand and provide a solid foundation for the long term. However, in the near term, whilst we are confident with our product proposition, we remain cautious about the economic climate and its effect on consumer spending ahead of the important Christmas trading period."
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