When things get tough, it's nice to give presents to cheer up. In the current state of the market ...
When things get tough, it's nice to give presents to cheer up. In the current state of the market there could be an awful lot handed out this year, especially in the City, which should be very good news for Aim-listed International Greetings.
IG is the world's third largest supplier of wrapping paper. Very quietly it has built up an impressive record of earnings growth through well-judged acquisitions and organic growth.
The company is a big supplier to chains such as Woolworth's and Tesco and has a burgeoning character merchandising arm.
This year should see a big earnings uplift from the acquisition of Stephen Lawrence, its main US competitor.
On a forward P/E ratio of 18 and with five years of strong profit growth behind it, the shares are good value.