REG - IG Design Group PLC - Trading Update

IG DesignAnnouncement

20/10/2022 07:01

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RNS Number : 4757D  IG Design Group PLC  20 October 2022

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 30(th) November
2022 at 9:00am. If you would like to register, please contact
designgroup@almapr.co.uk (mailto: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 (https://bit.ly/IGR_H1_results)

 

For further information, please contact:

 IG Design Group Plc                           Tel: +44 (0)1525 887310

 Stewart Gilliland, Interim Executive Chair

 Paul Bal, CFO
 Canaccord Genuity Limited (Nomad and Broker)  Tel:  +44 (0)20 7523 8000

 Bobbie Hilliam

 Gerel Bastin
 Alma PR                                       Tel:  +44 (0)20 3405 0209

 Sam Modlin                                    designgroup@almapr.co.uk (mailto:designgroup@almapr.co.uk)

 Josh Royston

 Pippa Crabtree

 

 

 

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