BusinessCompany NewsClinton Cards moves year-end back

Clinton Cards moves year-end back

Greetings card retailer moves financial year back six months to manage market expectations better

Clinton Cards has moved its financial year-end from January to July in order
to manage market expectations better.

In a trading update the company said its most profitable month, December,
fell into the 11th month of its financial year, which had ‘always presented a
challenge in managing expectations throughout most of the financial year’.

As a result, Clinton Cards will report over an 18 month period to July 2006
and issue a second interim statement in January 2006.

The greeting card company has also moved the release date of its interim
results for 2005 back to accommodate the transition to international accounting
standards.

Previously Clinton Cards announced its interim results in September, but has
postponed the announcement to October to accommodate the changes required by
IFRS.

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