IG Design Sells Welsh Site To Power Company For GBP2.5 Million

3rd Apr 2018 13:40

LONDON (Alliance News) - IG Design Group PLC on Tuesday completed the sale of its site In Wales for GBP2.5 million.

The greeting cards company said that the site was under a five year option granted by the group to a power company in 2013. On February 15, the power company, which IG Design did not name, exercised the option.

Following the sale, the group said that it will stabilize operations across its other facilities to improve operating efficiency.

IG Design anticipates to report an exceptional gain between GBP1.1 million and GBP1.3 million as a result of sale in the financial year ended March 31.

IG Design shares were trading 2.6% lower at 388.00 pence per share on Tuesday.

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