Business
COVID-19 Update
COVID-19 Update.
About this update from Ig Design Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 4656H\n IG Design Group PLC\n 25 March 2020\n \n \n \n \n 25 March 2020\n \n \n IG Design Group\n plc\n \n \n \n \n \n (\"Design Group\", the \"Company\" or the \"Group\")\n \n \n \n \n \n COVID-19 Update\n \n \n \n \n \n IG Design Group plc, one of the world's leading designers, innovators and manufacturers of celebrations, craft, gifting, stationery and creative play products, today issues a trading and financial update noting the impact of COVID-19.\n \n \n \n \n \n Trading update\n \n \n \n \n \n The Company announced on 4 March 2020 that it was trading in line with market expectations after taking into account the initial impact of the COVID-19 outbreak on the Group's operations in China and the completion of the CSS Industries Inc. (\"CSS\") acquisition on 3 March 2020. Since then, our China operations have continued to operate at increased production levels and remain operational today. \n \n \n \n \n \n Across the wider Group, during March, the continued spread of the virus and associated prevention measures has seen reduced demand from customers and disruption to our operations and customer deliveries. As of today, our manufacturing and distribution in the UK and Europe have been suspended temporarily, in line with guidance, with our office based teams now working from home where possible. In the US our business operations are partially suspended in certain states but otherwise operating where possible elsewhere. Our Australian business remains operational. Across the Group, health and safety remains our priority and our businesses are operating within the appropriate guidelines. \n \n \n \n \n \n Considering these developments, the Company's current financial year performance, to 31 March 2020 will see an impact, although this will be substantially limited to March trading. \n \n \n \n \n \n Looking ahead and the Christmas Season\n \n \n \n \n \n Looking ahead, as the situation continues to develop, the Board is preparing for an impact on customer order volumes across all parts of the business over the coming months, although the scale of this is not yet known at this stage. This will have an impact on the financial performance of the Group, but because this impact is correlated to how order volumes change it is too early to f...