Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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IG Design’s (IGR) latest trading statement this morning reassures that the group is on track for full-year market expectations - which currently predict an adjusted EPS of 31.6p, up from 28.3p last year, according to Bloomberg. The order book is strong going into the second half and leverage is expected to fall to around 1.1 times by the full year. Buy.
Apparently Canaccord's target price is now 800p.
Excellent H1 update - as confident as usual, with a "strong performance" and already able to state they're confident of meeting expectations given the high order book.
And there's "an active pipeline of acquisition opportunities throughout all regions"....
Https://uk.advfn.com/stock-market/london/ig-design-IGR/share-news/IG-Design-Group-PLC-Trading-Update/80937112
Berenberg today reiterate their Buy and 680p target:
Https://investing.thisismoney.co.uk/broker-views/
Nice feature on Citywire this morning re Octopus' stake increase:
Https://citywire.co.uk/funds-insider/news/five-shares-the-pros-are-buying-and-selling/a1263568?ref=citywire-money-latest-news-list#i=4
"IG Design (IGRI)
Who’s trading? Citywire AAA-rated Richard Power
The trade: Octopus’ micro-cap expert upped his stake in in greeting card and gift wrap maker IG Design Group from 9.2% of the shares to just over 10% worth £46 million at a share price of 589p
How have the shares performed? The stock is 146% higher over the last three years and is just off an all-time record high of 620p.
What does the company say? Power has rapidly upped his exposure as the share price has climbed this year, as an ambitious foray into North America created the world’s largest gift wrapping business and helped deliver a 37% increase in revenue. Earnings per share climbed 33% last year.
What’s the outlook? City brokers have rapidly revised their forecasts higher over the last year as overseas acquisitions helped boost organic revenue growth of almost 10%, with the median target price rising from 520p to 740p. Despite the speed of this year’s appreciation that means a further 26% rerating is predicted."
Https://citywire.co.uk/funds-insider/news/the-expert-view-bp-diploma-and-chesnara/a1262887
"IG Design a ‘multi-year winner’, says Berenberg
Berenberg analyst Owen Shirley believes greeting cards business IG Design Group (IGR) is a ‘multi-year winner’ thanks to its consolidation of the global gifting market.
He maintains a ‘buy’ recommendation on the stock and a target price of 680p. The shares were trading at 591p yesterday.
A trading update from IG revealed progress across a number of its strategic priorities.
‘Most notably, the company is scaling the US gifting business, capturing the UK paper bag opportunity and continuing to improve its balance sheet strength, which should provide further firepower for accretive mergers and acquisitions,’ said Shirley.
The takeover of Impact Innovations in August 2018 has helped with plans for scaling up its US business, along with an ultra high-speed printing press which is being installed in Memphis in November. IG also agreed a distribution deal with one of the US’s largest retailers for its 1,500 stores nationwide.
In the UK, it invested in its first paper bag manufacturing line at a factory in South Wales. Its ‘printing and design expertise combined with its operational capabilities, have helped it to gain significant traction in a market that remains relatively nascent, following the ban on free plastic bags in the UK in late 2015’ said Shirley.
Demand has been so significant that a second manufacturing line is to launch in the second half of the year and consideration for further investment is already underway."
Yet another excellent trading update - can't ask for more:
Https://uk.advfn.com/stock-market/london/ig-design-IGR/share-news/IG-Design-Group-PLC-Trading-Update/80614476
Crucially, Xmas supplu must have gone/be going extremely well to enable the CEO to say
"The momentum throughout the business continues apace alongside good forward visibility of our order book going into the remainder of the year".
And all of this bodes very well too:
"including the success of combined teams within the US recently reaching agreement with one of the US's largest retailers for the supply of all year round themed and seasonal 'Impulse' gifting products, to over 1500 stores nationwide. This new agreement is expected to generate significant incremental revenues in FY21 and beyond. Further growth opportunities within the Food and Drug retail channel have also been secured, reflecting focus on great value 'Impulse' gifting products.
In the UK, the Company has secured a number of new character licenses across the Gift Packaging categories which represent excellent additions to the broad existing portfolio. The Directors are also greatly encouraged with the enthusiastic response to FY20 key licensed product launches, including Frozen 2 and Toy Story 4."
This is a better link...
https://www.igdesigngroup.uk/2019/05/28/paper-twist-carrier-bags-from-design-group-uk/
Just bought some more today...
Thanks for all your posts RIVALDO
ATB
And Cannacord have retained their 800p price target.
IG Design (LON:IGR)
Share price: 600p (down 0.7% today, at 11:58)
No. shares: 78.3m
Market cap: £469.8m
Full year results
IG Design Group plc, one of the world's leading designers, innovators and manufacturers of Gift Packaging, Celebrations, Stationery and Creative Play products, Giftware and related product categories announces its results for the year ended 31 March 2019.
Sparkling results today from this group. I'm surprised the share price hasn't really moved.
Adjusted EPS is up 33% to 29.3p - giving a PER of 20.5 - not cheap, but surely justified given the strong profit growth.
I can't find any new broker forecasts unfortunately. Looking on Research Tree, there's a note from Progressive Equity Research from 15 Apr 2019 estimating 27.0 adj. EPS. Stockopedia shows 26.9p EPS forecast, almost the same. So the actual of 29.3p looks a comfortable beat against expectations.
Dividends - final divi up 50% to 6p. With the 2.5p interim divi, that gives a yield of 1.4% - not very exciting, but rising quite rapidly.
Outlook - key bits say;
...we are greatly encouraged with prospects for this trend to continue in 2020 and beyond...
We are excited by the positive start to the new financial year and the potential to drive the business forward through compelling M&A opportunities.
Exceptional items - large this year, at £8.4m - mainly restructuring charges
Balance sheet - looks better, since an equity fundraising was done during the year.
Cashflow statement - looks fine. A genuinely cash generative business, which is making acquisitions.
My opinion
Looks a very nice business, that has performed extremely well in recent years.
The valuation reflects this, and looks about right to me.
Berenberg increase their target to 680p (from 640p) and say Buy:
Http://investing.thisismoney.co.uk/broker-views/
Terrific results - 29.3p EPS is well ahead of forecasts of 27p from Progressive Equity, as is the 8.5p dividend.
Year end net cash of £17.1m is way ahead of the forecast £9.9m.
And all this despite major restructuring, large acquisition integration etc.
The outlook is as positive as ever.
IGR always delivers.
Nice coverage of Octopus' increase in their stake in IGR:
Https://citywire.co.uk/funds-insider/news/four-shares-the-pros-are-buying-and-selling/a1225968?ref=citywire-money-latest-news-list#i=4
"IG Design (IGG)
Who’s trading? Citywire AA-rated Richard Power
The trade: Octopus’ head of micro-caps upped his stake in greeting card and gift wrap maker IG Design Group from 8.1% of the shares to 9.2%.
How have the shares performed? After rocketing 325% over three years to September last year the shares have remained at highs, trading at 610p on Friday.
What does the company say? Investors in the company attempted another push on its upward resistance line in mid-April after it reported a 37% revenue boost from US firm Impact Innovations, doubling its North American business to create what it claimed was the world’s biggest retail gift packing business, saying profit would ‘significantly’ beat 2017’s figure.
What’s the outlook? The company also last month noted it intended to up the amount of cash it returned to backers. A three-strong universe of analysts rate it a unanimous ‘buy’ on a median price target of 720p, although this sits in the middle of a very broad spread between 640p and 800p."
BlackRock Smaller Companies Trust announced their results this morning, and they've been busy.....
"Another recent purchase is IG Design Group, the largest gift packaging group in the world. The company has generated excellent sales growth across all regions globally, whilst also benefiting from efficiency improvements."
Cannacord say Buy with an 800p target:
Https://highlightpress.com/2019/04/17/ig-design-group-igr-earns-buy-rating-from-canaccord-genuity.html
Excellent news, another confident statement. Progressive Equity currently forecast £418.2m revenues for last year, so around £449m as stated today would be hugely above expectations.
Net cash is "significantly above expectations", and it looks like another acquisition is on the cards.
Well done yet again to IGR:
https://www.investegate.co.uk/ig-design-group-plc--igr-/rns/trading-update-and-notice-of-results/201904150700071270W/
RNS's re award wins are often PR fluff, but this is an exception - winning Walmart's Supplier of the Year in its category is pretty impressive.
Particularly as "Commercial measures such as sales, sell through, inventory, and profit were also taken into account":
Https://www.investegate.co.uk/ig-design-group-plc--igr-/rns/impact-innovations-receives-walmart-award/201904050700052035V/
We seem to like 600p so ill aim for that not being greedy :)
800p - nice :o))
Cheers.
In a an analyst report published on Tuesday morning, professional analysts at Canaccord Genuity initiated coverage on shares of Ig Design Group (LON:IGR). The firm set a “Buy” rating with GBX 800.00, giving 35.14% to target.
And everything looking good for this year, particularly with the Impact acquisition having been integrated so well.
Good to see the Frozen and Toy Story license acquisitions too:
https://www.investegate.co.uk/ig-design-group-plc--igr-/rns/trading-update/201901220700056965N/
All wrapped up
This is the most wonderful time of year for greetings card and gift wrapping company IG Design Group (LSE: IGR). This AIM-listed £450m company has a large global reach, with operations in the Americas, Europe and Australia. Its products now retail in more than 200,000 stores across 80 countries and it is expanding through acquisition.
It has also been one of the most exciting stocks of the last five years, up an incredible 850% over that time, yet hasn’t attracted the investor excitement you might expect given its soaraway growth. I wrote about this small-cap 12-bagger earlier this year, noting that it has even managed to defy the retail slowdown affecting bricks and mortar retailers on the stricken UK high street.
Christmas on the cards
The group recently announced a reported 23% rise in revenue to £205m, driven by organic growth of 4% and the acquisition of Impact Innovations Inc in the US, while underlying profit before tax jumped an impressive 76% to £18.5m.
Unsurprisingly it isn’t cheap, currently trading at 21.6 times forward earnings, but it isn’t that expensive given such strong growth, with earnings forecast to rise 13% and 17% over the next two years. You even get a small yield, currently a forecast 1.5%, with cover of 1.3x, but this stock is all about the growth. I’m hoping IG will shine at Christmas, and for years to come.