Update: Frozen hot property
International Greetings’ Q3 trading update indicates a good Christmas performance and results for the year tracking in line with market forecasts. Clean sell-through on the high street should buoy retail confidence for this year, with a particularly strong continuing outlook for the Frozen and Despicable Me licensed lines. Investment in manufacturing facilities is paying off in terms of efficiency, driving the FY16 margin in territories where the spending has taken place. The cash profits should deliver meaningful debt reduction, bringing the payment of dividends ever closer.
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