IG Design set to top forecasts after unwrapping strong fourth-quarter
By Iain Gilbert
Date: Monday 15 Apr 2019
(Sharecast News) - Giftware and packaging outfit IG Design Group saw revenues and profits move ahead last year as a result of continued strong trading throughout the final quarter.
As a result of its solid last few months, IG Design now anticipates that its financial performance will be in line with market expectations and significantly up year-on-year.
Revenue was projected to have increased 37%, driven by the acquisition of Impact Innovations and organic growth of 9.9%%, while operating profits looked set to be "significantly ahead", again due to the Impact acquisition and improved overall net operating margins.
Exceptional costs remained in line with expectations at roughly £8-9m, primarily reflecting the acquisition of Impact and the subsequent US restructuring.
Chief executive Paul Fineman said: "Our strong performance in FY19 reflects our close relationships with the world's leading retailers, our focus on innovation and efficiency and the increasing benefit of scale as we continue to grow.
"We look forward to continuing to drive the business forward, with a focus on continued organic growth, supplemented by compelling M&A."
As of 0920 BST, IG Design shares had dipped 2.33% to 586p.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN