Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Ig Design Group Plc
[{"type":"text","content":"\n \nRNS Number : 1270W IG Design Group PLC 15 April 2019 \n\n15 April 2019\nIG Design Group PLC\n(the \"Company\", the \"Group\" or \"Design Group\")\n \nTrading Update and Notice of Results\n \nStrong final quarter wraps up another year of double digit revenue and profits growth \n \nIG Design Group plc, one of the world's leading designers, innovators and manufacturers of Gift Packaging & Celebrations, Stationery & Creative Play, Giftware & related product categories announces its trading update in relation to the year ended 31 March 2019.\n \nThe Group's strong trading performance continued in the final quarter delivering revenue and profit growth across all regions in the year. As a result, the Board anticipates the financial performance of the Group to be in line with market expectations and significantly up year on year.\n \nThe Company's results for the full year to 31 March 2019 will be announced on 11 June 2019.\n \nHighlights\n- Revenue for the year to 31 March 2019 is expected to increase 37% on the prior year driven by the acquisition of Impact Innovations Inc. ('Impact') and organic growth of 9.8%.\n- The Group expects operating profits to be significantly ahead of last year as a result of the Impact acquisition and improved overall net operating margins* \n- Net cash ended the financial year significantly ahead of the prior year and ahead of expectations, with average leverage during the year expected to have been below 1.3x EBITDA* (FY18: 1.5x EBITDA) \n- ROCE is expected to increase year on year, reflecting another year of focus on working capital management and profit growth\n- Exceptional costs remain in line with expectations at approximately £8-9 million, primarily reflecting the acquisition of Impact and the subsequent US restructuring\n- The Board remains committed to its progressive dividend policy and, in line with previous guidance, expects to increase the Company's earnings pay-out ratio at the full year \n \n * calculated before Exceptional items, LTIP charges and the amortisation charge relating to acquired intangibles \n&nbs...