17th Oct 2019 09:18
(Alliance News) - IG Design Group PLC on Thursday reported a strong interim performance, with the firm on track to meet market expectations.
IG Design, which designs and makes gift making, stationary, and play products, recorded "double-digit" year-on-year growth in revenue and operating profit for the six months to September, with cash generation strong and leverage to improve.
For the half-year to September 2018, IG Design posted revenue of GBP205.2 million, up 23%, and underlying operating profit growth of 71% to GBP19.0 million.
The order book is strong, IG Design continued, and it expects this to help growth into its financial year ending March 2021.
Chief Executive Paul Fineman 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 financial 2021 and beyond. These together with an active pipeline of acquisition opportunities throughout all regions provides an exciting outlook for the future."
Shares were 0.9% higher on Thursday morning in London at 621.94 pence each. IG Design will report interim results on November 26.
By George Collard; [email protected]
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