Last checked at 20 Oct 2022 07:00
20 October 2022
IG Design Group Plc('Design Group' or the 'Group')
Trading Update for the 6 months ended 30 September 2022
IG Design Group plc, one of the world's leading designers, innovators and manufacturers of Gift Packaging, Celebrations, Craft & Creative Play, Stationery, Gifting and related product categories provides a Trading Update ahead of the announcement of its results for the six months ended 30 September 2022 ('the period').
Both of the Group's divisions, DG Americas and DG International, experienced strong trading over the period. As a result, the Group's sales, profits, margins and cash flow are expected to be significantly improved on the same period last year, and also ahead of the Board's expectation for the period. The main reason for this performance is that many customers have brought forward their seasonal ordering so as to avoid the supply chain challenges experienced in the second half of calendar year 2021. This performance reflects the strong relationships that have been sustained with customers and the ongoing demand for the Group's products.
Given the bring-forward of orders during this period, the Board believes the trading results for the full year to 31 March 2023 will have a strong first half weighting, but overall will remain in line with the Board's expectations for the year as a whole. This represents a small year-on-year improvement in profits compared to the prior financial year. The Board's outlook continues to reflect ongoing input cost inflation and signs of a general downturn in consumer sentiment across all of our markets as a result of the tougher economic environment.
Further details on the performance over the period, along with an updated outlook, will be set out with the period's results which will be published on 30 November 2022.
Results Presentation
Management will be hosting a webinar for analysts on Wednesday 30th November 2022 at 9:00am. If you would like to register, please contact designgroup@almapr.co.uk
In addition, management will be hosting a webinar for retail investors on Wednesday 30th November 2022 at 12:00. Investors can register for the webinar via: https://bit.ly/IGR_H1_results
For further information, please contact:
IG Design Group Plc Stewart Gilliland, Interim Executive Chair Paul Bal, CFO | Tel: +44 (0)1525 887310
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Canaccord Genuity Limited (Nomad and Broker) Bobbie Hilliam Gerel Bastin | Tel: +44 (0)20 7523 8000
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Alma PR Sam Modlin Josh Royston Pippa Crabtree | Tel: +44 (0)20 3405 0209 designgroup@almapr.co.uk |