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IG Design Group expects annual performance to meet market expectations

By BFN News | 08:44 AM | Monday 15 April, 2019

IG Design Group said it expected financial performance to be in line with market expectations and significantly up year on year. 'The group expects operating profits to be significantly ahead of last year as a result of the Impact acquisition and improved overall net operating margins,' the company said. Revenue for the year to 31 March 2019 was expected to increase 37% on the prior year driven by the acquisition of Impact Innovations and organic growth of 9.8%, the company added. Exceptional costs remain in line with expectations at approximately £8-9m, primarily reflecting the acquisition of Impact and the subsequent US restructuring. 'The Board remains committed to its progressive dividend policy and, in line with previous guidance, expects to increase the Company's earnings pay-out ratio at the full year,' the company added. 'We look forward to continuing to drive the business forward, with a focus on continued organic growth, supplemented by compelling M&A.' At 8:44am: (LON:IGR) IG Design share price was -16p at 584p Story provided by

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