IG Design Group PLC Trading Update (1961Q)
October 17 2019 - 2:00AM
UK Regulatory
TIDMIGR
RNS Number : 1961Q
IG Design Group PLC
17 October 2019
17 October 2019
IG Design Group PLC
(the "Company", the "Group" or "Design Group")
Trading Update
Strong first half performance delivering double digit growth
IG Design Group plc, one of the world's leading designers,
innovators and manufacturers of gift packaging, greetings,
stationery, creative play products and giftware, announces a
trading update for the first half of the financial year, which
covers the six month period to 30 September 2019.
The Group is pleased to report a strong performance over the
period; on track to meet full year market expectations, with the
business delivering double digit year on year growth in revenue and
operating profit. The Group continues to deliver strong cash
generation and as a result we expect year end average leverage(1)
to show further improvement against the prior year, reaching around
1.1x.
As the Company begins the second half of the year it continues
to benefit from a strong order book together with major commercial
and operational initiatives and investments throughout the Group,
which will support the growth going into FY21.
Commenting on the performance, Paul Fineman, Group CEO,
said:
'We are delighted with a strong start to the year and the
continued momentum across the business, illustrated by the high
level of orders going into the second half. Our robust financial
performance is underpinned by the investments made in the business
and the operational initiatives undertaken to increase
efficiencies.
Our organic growth initiatives throughout the business position
us well for FY21 and beyond. These together with an active pipeline
of acquisition opportunities throughout all regions provides an
exciting outlook for the future."
The Group will announce its interim results on 26(th) November
2019.
1 - Average Leverage is calculated as the 12 month average debt
divided by Adjusted EBITDA. Adjusted EBITDA for the purpose of the
average leverage calculation is based on a pre-IFRS 16 basis.
This announcement contains inside information
- Ends -
For further information, please contact:
IG Design Group plc Tel: 0152 588 7310
Paul Fineman, Chief Executive
Giles Willits, Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Broker) Tel: 020 7523 8000
Bobbie Hilliam - NOMAD
Alex Aylen - Sales
Alma PR Tel: 020 3405 0205
Rebecca Sanders-Hewett designgroup@almapr.co.uk
Susie Hudson
Sam Modlin
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTFFDSIWFUSEES
(END) Dow Jones Newswires
October 17, 2019 02:00 ET (06:00 GMT)
Ig Design (LSE:IGR)
Historical Stock Chart
From Apr 2024 to May 2024
Ig Design (LSE:IGR)
Historical Stock Chart
From May 2023 to May 2024