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Design Group Share News (IGR)
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Design Group Information
Share Price Information for Design Group (IGR)
Share Price is delayed by 15 minutes
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Share Price:
214.00
Bid:
211.00
Ask:
217.00
Change:
-17.00 (-7.80%)
Spread:
6.00 (2.844%)
Open:
215.00
High:
201.00
Low:
201.00
Prev. Close:
218.00
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Don't have an account? Click here to register.Sunday share tips: Johnston Press, IG Design
Sun, 07th Aug 2016 13:59
(ShareCast News) - Sell shares in Johnston Press, was the advice of the Sunday Times' Inside the City column. The publisher, recently added to its stable of local newspaper that ranges from the Burnley Express and the Isle of Man Examiner down to the Crawley Observer and Portsmouth's The News, with the acquisition of the daily national paper the i from the owners of the Evening Standard for a whopping £24m, of which £22m was cash, putting further pressure on a creaking balance sheet. Net debt stood at £137.7m at the start of July, according to recent interim results, of which there was £10.59m cash in the coffers.At those results the company wrote down the value of most of its publishing titles and print assets by roughly £224m almost in half to £279m, excluding the i. The resulting market value of just over £11m means that Johnston is worth, if cash is stripped out, a heartbreaking £0.5m. A £24m loan could be useful but the banks' conditions require the company to improve its debt-to-earnings ratio before it can access it. Plans are to cut costs and sell assets, in order to keep afloat, although this might be a lot easier if it didn't have to pay interest costs of £19m a year.IG Design is a stock worth buying, said Midas in the Mail on Sunday. The former International Greetings has been a recovery story since hitting a lot in 2008 but prospects for further growth from the maker of greetings cards, Christmas crackers, wrapping paper and children's stationary are said to be bright, with a customer list that includes Costco, Wal-Mart, Tesco, Target, Aldi, Lidl and Waitrose. Annual results to end-March showed how in recent years management have reduced the reliance on the UK, cutting overseas revenues risen to 66%; reduced reliance on cards and Christmas, with cards down to 9% of sales and Christmas still accounting for around half, as well as reducing the debt, which was down to £17.5m from £42.1m three years ago.IG sells a range of around 0.5bn products in around 80 countries, with the US beginning to be a major market, helped by Fineman shifting the product range downmarket. Retailers buy IG products for an average price of about 55p and price them on the shelves at between £1 and £2, which keeps demand resilient whatever the economic conditions. IG's manufactures in The Netherlands, Wales, China and the US produce goods quickly and cheaply. Further investment to upgrade US manufacturing due to be complete by early next year, should add growth in what is the biggest market in the world for gift products and children's stationery. Brokers are sanguine for 2017, forecasting 13% sales growth to £269m and similar profits acceleration to £12.3m, with the dividend up 1p to 3.5p.
More News
3 Dec 2014 08:05
International Greetings first-half sales drop on currency volatility
Giftware and packaging designer and maker International Greetings blamed currency volatility for lower sales and said profits in its Australian business would take a short-term hit from development costs. The group reported a 1.5% fall in sales for the six months ended 30 September to £111.9m,
Read more2 Jul 2014 08:47
International Greetings on track to meet targets as annual profits rise
Gift packaging, cards and stationery group International Greetings reported a small rise in profits in the year to March 31st with all operating regions trading profitably. Revenues slipped 0.3% to £224.5m due to currency movements, but adjusted profit before tax increased by 4% to £7.6m, while adj
Read more5 Jun 2014 10:43
International Greetings Acquires Dutch Gift-Wrap Maker Enper
LONDON (Alliance News) - International Greetings PLC Thursday said it has signed a deal to acquire the trade and certain assets of Netherlands-based gift-wrap manufacturer Enper Giftwrap BV for roughly EUR1.9 million, which it said will widen its customer base and further strengthen its market po
Read more24 Apr 2014 10:14
International Greetings Says Full-Year In Line With Expectations
LONDON (Alliance News) - International Greetings PLC Thursday said that trading in its last financial year was in line with expectations, driven by strong growth in its European business. "Our focus on leverage and overall debt reduction across the group has produced an outcome ahead of cur
Read more10 Feb 2014 15:52
NWF non-exec buys 10,000 shares
Monday was a relatively quiet day for director dealings with very few notable transactions taking place. One took place at agricultural and distribution firm NWF Group where Non-Executive Director Yvonne Monaghan acquired 10,000 shares at a price of 138p each. The £13,800 deal represents Monaghan'
Read more10 Feb 2014 10:27
DIRECTOR DEALINGS: International Greetings Executive Sells Shares
LONDON (Alliance News) - International Greetings PLC Monday said Executive Director Lance Burn exercised options over 22,400 shares and sold the shares at a price of 73 pence each Friday. Following this transaction, Burn has no interest in the company. Shares in the greeting card comp
Read more5 Feb 2014 12:29
DIRECTOR DEALINGS: International Greetings Non-Executive Sells Shares
LONDON (Alliance News) - International Greetings PLC Wednesday said non-executive director Elaine Bond sold 10,000 shares at a price of 70 pence per share. Following this transaction, Bond has no further interest in the company. Shares in the gift wrapping company were down 4.6% at 72
Read more29 Jan 2014 10:51
International Greetings Says It Performed Well Over Christmas Period
LONDON (Alliance News) - International Greetings PLC Wednesday said it performed well over the Christmas period, and trading over the third quarter was in line with expectations. The gift packaging and greetings card manufacturer said its debt levels were lower than expected during the peri
Read more29 Jan 2014 08:23
UK MORNING BRIEFING: Shares Open Higher; Shell Sells Brazil Stake
LONDON (Alliance News) - Shares have opened higher Wednesday, as fears about emerging market economies has eased ahead of the results of the January US Federal Reserve meeting.
Royal Dutch Shell has announced another asset sale, this time 23% of its Brazilian offsho
29 Jan 2014 07:58
International Greetings does well at Christmas
People buying wrapping paper and gift bags helped packaging and stationery group International Greetings to celebrate a good Christmas. The company said third-quarter results had matched expectations after it did well in festive trading. It said gift bag sales were increasing and it was boosting
Read more