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IG Design unwraps another strong quarter

"It is particularly pleasing to have achieved significant organic growth whilst also benefiting from the acquisition of Impact Innovations and other investments made throughout this and prior years," said Paul Fineman, IG's CEO
Gift shop
In a tough UK environment, the business continued to grow both revenues and profits

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%.

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.

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