Last checked at 3 Apr 2018 07:00
3 April 2018
IG Design Group plc
(the "Company", the "Group" or "Design Group")
Sale of Property
IG Design Group plc, one of the world's leading designers, innovators and manufacturers of gift packaging, greetings, stationery, creative play products and giftware, is pleased to announce the completion on 29 March 2018 of the sale of one of its sites in Wales for £2.5 million.
The site represented excess warehousing capacity for the UK business and following the sale the Group will consolidate operations across its other facilities driving further improvements in operating efficiency.
The site was under a five year option granted by the Group to a power company in 2013 and on 15 February 2018 the power company exercised the option. As a result of the sale, the Group expects to report an exceptional gain in the financial year to 31 March 2018 of between £1.1 - £1.3 million.
The Company will provide its year end trading update week commencing 16th April 2018.
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For further information, please contact:
IG Design Group plc Tel: 01525 887310
Paul Fineman, Chief Executive
Giles Willits, Chief Financial Officer
Cenkos Securities plc Tel: 0207 397 8900
Bobbie Hilliam
Alma PR Tel: 0203 865 9667
Rebecca Sanders-Hewett designgroup@almapr.co.uk
Susie Hudson