IG Design Group: Strong profit growth, key strategy initiatives and quantified aspirations.
IG Design Group designs and manufactures gift packaging, giftware, celebrations, stationery and creative play products.
Strong profit growth, key strategy initiatives and quantified aspirations
IG Design Group delivered a 27% increase in adjusted PBT to $34.8m for H1 FY24 (to 30 September) with a significant reduction in net debt to $15.1m, as signposted in last month’s trading update. The adjusted operating profit margin was some 270bps higher at 8.6% (vs 5.9% in H1 FY23), the highest achieved since H1 FY20 ahead of the CSS acquisition. Management has provided more details on the key attributes and initiatives for its new growth-focused strategy. The group is on track to return to pre-Covid adjusted operating margins, aspiring to a 5% level in FY25E compared with FY20’s pro forma 4.5% (including CSS on a FY basis), rising to over 6% in FY27E on a $900m revenue aspiration.
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