UK's IG Design surges to near one-year high on upbeat forecast
30/04/2024 11:33
** Shares of IG Design Group Plc IGRI.L surge as much as
37% to 166.5p, their highest since May 9, 2023
** The world's largest maker of celebration products,
including gift wrap, greeting cards and gift bags, sees FY24
adjusted profit before tax of $25.9 mln, ahead of market
expectations, helped by strong performance at its DG Americas
and DG International divisions
** Group forecasts to return to pre-Covid adjusted operating
profit margins of 4.5% by March 31, 2025
** Stock up 35.4% as of 1022 GMT, taking YTD gains to ~11%
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))