IG Design Group riding high in UK and globally
IG Design Group plc, one of the world’s leading designers, innovators and manufacturers of gift packaging, greetings, stationery, creative play products and giftware, reports soaring revenues for the nine months to December 31.
Revenues at the Bedfordshire-based business were up 36 per cent, with like-for-like sales nine per cent ahead. The group has seen growth in reported revenue and profit across all regions, with non-UK based customer revenues now accounting for over 70 per cent of the group.
The board confirms that the full-year performance remains on track to deliver diluted earnings per share in line with current market expectations, with year-on-year growth expected to be in excess of 20 per cent. It further reports continued strong cash conversion.
Looking to the year ahead, IG says it has a strong committed order book and pipeline of contracts in negotiation, with a number already secured for FY20. Its UK based ‘Not for Resale’ bags business continues to grow ahead of expectations with the order book now consisting of over 30 million bags, including having won a number of contracts with new retail brands.
IG has already secured new business in everyday cards in the UK, renewed card contracts in Australia and concluded new licensing deals including Disney’s Frozen 2 and Toy Story 4 in the UK and Australia.
Chief executive Paul Fineman said: “The performance of the group throughout this period has been strong with all regions growing both revenue and profit, underpinning significant year on year growth.
“The acquisition of Impact has delivered everything we expected with the integration ahead of schedule and planned synergies remain on track.
“Continued delivery against our strategy means we confidently enter FY20 with good overall momentum, across our diversified group including further benefits from the integration of the Impact acquisition in the US.”
• PHOTOGRAPH: IG Design Group plc chief executive, Paul Fineman