Gift packaging designer IG Design Group PLC (LON:IGR) found the market hard to please after wrapping up another year of strong growth.
The group said revenue for the year to 31 March is expected to be up 37% on the prior year driven by the acquisition of Impact Innovations. Organic growth clocked in at 9.8%.
In the spirit of Encourage a Young Writer day, we just had to show off our new exciting range of notebooks...COMING SOON!! pic.twitter.com/TOMEe6LIDr
— IG Design Group UK (@igdesigngroupuk) April 10, 2019
Net cash at the end of IG’s financial year was “significantly ahead of the prior year and ahead of expectations”, with average leverage during the year expected to have been below 1.3 times underlying earnings (EBITDA), compared to 1.5 times EBITDA the year before.
"Our strong performance in FY19 reflects our close relationships with the world's leading retailers, our focus on innovation and efficiency and the increasing benefit of scale as we continue to grow,” said Paul Fineman, the chief executive officer of IG.
“We look forward to continuing to drive the business forward, with a focus on continued organic growth, supplemented by compelling M&A," he added.
Shares in IG Design were down 1.5% at 591p.