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IG Design expects record revenues

By BFN News | 07:46 AM | Friday 24 March, 2017


IG Design Group has confirmed that revenues for the year ending 31 March were expected to achieve record levels and exceed £300m. It also expected profitability to be ahead of current market forecasts. The group said cash generation was well ahead of previously expected levels and such that the board's target of average annual leverage at less than 2.5x EBITDA would be achieved for the year ended 31 March 2017 - two years ahead of plan. Group chief executive Paul Fineman said: "We are delighted with our performance in FY17, which will represent a record year for the group on a number of metrics. "Not only has our performance surpassed historical revenue levels, but additionally, and in line with our strategy, we are now a significantly de-risked group, with lower average debt and a much improved geographic and product diversity. "A huge breadth of opportunity remains available for us and we have pleasing momentum for the year ahead. "To ensure we remain efficient, we continue to seek improvements throughout the Group and are investing substantially for the future in all aspects of our business. "We are confident in our ability to drive growth both organically and through strategic acquisitions, and look forward to updating the market on our progress." Story provided by StockMarketWire.com

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