11th Jun 2018 09:54
LONDON (Alliance News) - IG Design Group PLC said Monday its achieved record annual profits and revenue in all of its regions.
For the year ended March 31, IG Design posted a 51% rise in pretax profit to GBP19.7 million from GBP13.0 million the year before. The company's revenue increased 5% to GBP327.5 million from GBP311.0 million.
The gift packaging and greeting cards manufacturer saw sales in the UK & Asia and the Americas grow by 5.4% and 4.8%, respectively. These two regions represent 75% of the company's revenue.
In the UK & Asia, sales rose to GBP123.3 million from GBP117.0 million - which represents a 5.6% profit growth year-on-year. In the Americas, sales increased to USD158.8 million from USD151.6 million, a 34.6% profit growth year-on-year.
The company "on the back of its strong financial performance" increased its final dividend by 45% to 4.0 pence per share from 2.75p, giving a total payout for the year of 6.0p per share, up 33% from 4.5p the year before.
Looking ahead, IG Design is "confident" of "further success". With a "positive start to the new financial year" and a "positive order book in place" the company is "excited about the opportunities" in the year ahead.
Chief Executive Officer Paul Fineman said: "We are delighted to report that 2017/18 has seen our well-diversified business deliver a very successful overall performance, but more importantly, on-going momentum and opportunity for 2018/19 and beyond."
"With the effective combination of our product and brand portfolio, together with an array of value adding services, we remain very well placed to continue to grow organically, across all regions and channels. This, together with carefully considered M&A opportunities supported by an ever strengthening balance sheet, provides a very bright future," he added.
Shares in IG Design were up 0.9% at 439.93p each Monday morning.
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