IG Design Group PLC Trading Update (1726R)
25 Outubro 2023 - 3:00AM
UK Regulatory
TIDMIGR
RNS Number : 1726R
IG Design Group PLC
25 October 2023
Embargoed until 25 October 2023
IG Design Group Plc
('Design Group' or the 'Group')
Trading Update for the 6 months ended 30 September 2023
Significant growth in profit and margin alongside strong cash
flow
Full year results expected to be in line with expectations
IG Design Group plc, one of the world's leading designers,
innovators and manufacturers of Gift Packaging, Celebrations, Craft
& Creative Play, Stationery, Gifting and related product
categories provides a Trading Update ahead of the announcement of
its results for the six months ended 30 September 2023 ('the
period').
The Group has continued to make good progress on its journey of
improving operational efficiency and simplifying the business.
These initiatives have resulted in significant growth in profit and
margin for the period compared to the same period last year. In
addition, net debt is significantly lower than a year ago,
reflecting strong cash flow. Both measures are notably ahead of
management's expectations for the period.
The Group has seen a return toward normal ordering seasonality
following the disruption to international supply chains in recent
years, meaning that some sales have returned to being in the second
half of the financial year rather than the first. Alongside this,
the Group has seen lower consumer demand for Everyday products in
some markets and reduced order quantities guided by lower customer
expectations of the forthcoming Christmas season. Consequently, the
Group delivered lower sales versus the same period last year. The
reduction in the DG Americas division has been partially offset by
sales growth in DG International, particularly in continental
Europe.
Despite lower sales in the period, DG Americas continues to
benefit from the various strategic initiatives undertaken since the
start of 2022. These initiatives have more than offset the effect
of lower sales, such that absolute profit and margins have improved
during the period.
The Board believes the trading results for the full year to 31
March 2024 remain in line with the Board's expectations for the
year. This represents a strong year-on-year improvement in profit
and cash flow compared to the prior financial year, albeit sales
will be lower for the reasons given. It demonstrates continued
delivery of the Board's aspiration to return the Group to
pre-pandemic operating margins by the end of FY2025.
Further details on the performance over the period, along with
the outlook for the period ahead, will be set out with the
Company's interim results which will be published on 28 November
2023.
Results Presentation
Management will be hosting a webinar for analysts on Tuesday
28th November 2023 at 10.45am. If you would like to register,
please contact designgroup@al mastrategic.com
In addition, management will be hosting a webinar for retail
investors on Tuesday 28th November 2023 at 13.30. Investors can
register for the webinar via https://bit.ly/IGR_H1_2024_webinar
For further information, please contact:
IG Design Group Plc Tel: +44 (0)1525 887310
Paul Bal, Chief Executive Officer
Rohan Cummings, Chief Financial
Officer
Canaccord Genuity Limited (Nomad Tel: +44 (0)20 7523 8000
and Broker)
Bobbie Hilliam, NOMAD
Alex Orr
Alma Strategic Communications Tel: +44 (0)20 3405 0205
Rebecca Sanders-Hewett designgroup@almastrategic.com
Sam Modlin
Josh Royston
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement,
this information is now considered to be in the public domain.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFLFSTIELSFIV
(END) Dow Jones Newswires
October 25, 2023 02:00 ET (06:00 GMT)
Ig Design (LSE:IGR)
Gráfico Histórico do Ativo
De Jul 2024 até Ago 2024
Ig Design (LSE:IGR)
Gráfico Histórico do Ativo
De Ago 2023 até Ago 2024