29th Jun 2016 07:44
LONDON (Alliance News) - IG Design Group PLC on Wednesday reported growth in profit in its recently-ended financial year, boosted by strong sales of its 'Star Wars' products in the UK, and said it sees no material change to its outlook or growth prospects following last week's EU referendum.
The greeting card, gifts and gift packaging manufacturer, formerly known as International Greetings, said its pretax profit in the year ended March 31 grew to GBP9.9 million from GBP7.3 million the year before, as revenue rose to GBP237 million from GBP229 million.
IG Design Group said revenue was boosted by the launch of 'Star Wars' gift packaging and stationery in the UK, while it also achieved record levels of cracker manufacturing in Asia.
IG Design Group will pay a total dividend of 2.5 pence, up from 1p the year before.
"Whilst it is too early to know the full long-term impacts of the UK's exit from the EU, the board feels that Design Group's diversified global portfolio of activity, together with our new global funding arrangements, means we are well-positioned to manage the effects, and this outcome of itself results in no material change in outlook for the group's near-term financial results or future growth prospects," IG Design Group said in a statement.
Shares in IG Design Group were trading up 9.4% at 161.90 pence on Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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