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IG Design profit rises 48%; sees FY beating market expectations

By BFN News | 02:59 PM | Tuesday 27 November, 2018


Gift and stationary product manufacturer IG Design Group posted a 48% rise in first-half profit and upgraded its guidance for the full year. Pre-tax profit for the six months through September increased to £14.0m, asre venue jumped 23% to £205.2m. Sales were boosted by the acquisition of Impact Innovations, while organic revenue grew 4%. The company declared an interim dividend of 2.5p per share, up 25%. Organic growth and a stronger performance from Impact were anticipated to deliver earnings 'ahead of market expectations', the company said. 'We go into the second half with a record order book and meaningful operational and commercial initiatives in full swing throughout the group,' chief executive Paul Fineman. 'As a result we are pleased to announce the group's full year forecasted earnings are anticipated to be ahead of market expectations.' At 2:59pm: (LON:IGR) IG Design share price was +12p at 577p Story provided by StockMarketWire.com

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