LONDON (ShareCast) - (ShareCast News) - Shares in IG Design Group are up more than 15% after it expressed delight at its record full-year 2017 performance and flagged substantial investment for the future in all aspects of its business.
Full-year group revenues were now expected to achieve record levels and exceed £300m, with profitability seen to be ahead of current market expectations.

IG Design's cash generation was well ahead of previously expected levels and such that directors' target of average annual leverage at less than 2.5x EBITDA would be achieved for the year to 31 March 2017, two years ahead of plan.

"Not only has our performance surpassed historical revenue levels, but additionally, and in line with our strategy, we are now a significantly de-risked group, with lower average debt and a much improved geographic and product diversity," said chief executive Paul Fineman.

'We are delighted with our performance in FY17, which will represent a record year for the Group on a number of metrics," he said in a trading statement.

Fineman added that a "huge breadth of opportunity" remained available for IG Design and that it had "pleasing momentum" for the year ahead.

"To ensure we remain efficient, we continue to seek improvements throughout the group and are investing substantially for the future in all aspects of our business," he added.

"We are confident in our ability to drive growth both organically and through strategic acquisitions, and look forward to updating the market on our progress."

IG Design is a specialist designer, innovator and manufacturer of celebrations, gifting, stationery and creative play products.

At 11:21 GMT, shares in AIM-listed IG Design were up 15.7% to 306p each.

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