IG Design Group plc: Preliminary Results for the year ended 31 March 2016
29/06/2016
Strong growth coupled with defined vision for the future
Strong growth coupled with defined vision for the future
IG Design Group PLC (‘Design Group’ or the ‘Group’), one of the world’s leading designers, innovators and manufacturers of gift packing and greetings, social expression giftware, stationery and creative play products, is pleased to announce its preliminary results for the year ended 31 March 2016.
Financial Highlights
Operational Highlights
- Non-UK revenues by customer destination are now 66% (2015: 67%) of Group
- In local currency, sales and operational initiatives drive 66% profit growth in Australia
- Strengthened management team in USA delivers 34% growth in profits in local currency
- Major capital investment project to drive efficiencies in paper converting completed on time and on budget in the USA
- Record Group sales of gift packaging and greetings related products, including over 60 million gift bags sold
- High volume sales of Star Wars, Spiderman, Minions and Peppa Pig products
*(stated before exceptional items and LTIP charges)
Paul Fineman, CEO, commented:
“I am delighted to report that the Group has delivered another year of strong growth with all metrics again exceeding our financial, commercial and operational goals. We have, once again, demonstrated our ability to turn profit into cash and successfully deliver fast payback on investments made, allowing us to increase dividends from 1p to 2.5p.
“We have a defined vision for the future, focused on profit growth alongside a unique blend of creativity and reliability. As such, our new brand will provide the platform for this next phase of Group development, accelerating our ability to leverage our global scale, simplifying our structure and illustrating the extent of our offering to our existing and future customers.
The evolution of our Group into a multi-category, design-focused and global business signals a new phase of growth opportunities both through exciting organic opportunities and through well considered acquisitions.”
EU Referendum Outcome
Whilst it is too early to know the full long-term impacts of the UK’s exit from the EU, the Board feels that Design Group’s diversified global portfolio of activity, together with our new global funding arrangements, means we are well positioned to manage the effects, and this outcome of itself results in no material change in outlook for the Group’s near term financial results or future growth prospects.