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IG Design 'confident' annual performance will top market expectations
StockMarketWire.com
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Consumer gift packaging business IG Design said it was 'confident' that full-year performance would be ahead of market expectations as first-half results were boosted by the acquisition of CSS Industries.
For the six months ended 30 September 2020, pre-tax profit rose to $17.1 million from $20.5 million year-on-year as revenue increased 41% to £434.6 million.
Growth was 'driven by the CSS acquisition, with Covid-19 negatively impacting trading across the group, particularly during the first quarter,' the company said.
The interim dividend was maintained at 3.0 pence a share.
Orderbook was currently in excess of 80% of full year revenue forecasts; a 'higher level than this time in the prior year, with everyday volumes continuing to be strong across the business,' the company said.
'Christmas in 2020 is being enthusiastically anticipated with customers reporting strong sell-through of decorations, gift packaging and crackers,' it added.
At 8:49am: (LON:IGR) Ig Design Group PLC share price was 0p at 478p
Story provided by StockMarketWire.com
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