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IG Design: Progressive

08:59, 29th October 2024
Progressive Research
Company Broker Research
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IG Design (IGR Follow | IGR) has published a post close H1 trading update for the six months ending  30  September.  Full-year  guidance  for  FY25E  remains  unchanged from that provided in last month’s AGM trading update. Group revenue for H1 FY25E has declined around 11%, a slight improvement on the five-month figure,  driven  by  persisting  adverse  trends  in  DG  Americas  (DGA). Cash generation  has  remained  strong,  with  the  group  delivering  a  positive average cash balance for the period. The group expects the combination of continued  business  simplification,  efficiency  measures  and  cost  savings initiatives to deliver a profit in H2FY25E, compared with a loss in H2 FY24.

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