IG Design Group (IGR ) has published an AGM trading update for the five months ending 31 August, with an updated outlook for FY25E. The group expects to continue to make progress with its transformation plans, with cash generation remaining strong, and DG International’s (DGI) performance also remaining strong, led by growth in Continental Europe. The same trends that adversely impacted DG America’s (DGA) FY24 revenue are now expected to persist longer than anticipated and have resulted in a decline of around 14% in the period. While this will hold back financial performance versus earlier expectations, the group still expects to achieve FY25E adjusted profit growth of at least 20% compared with FY24 and to achieve its stated operating margin of 4.5%.
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IG Design Group: Progressive
Sep 26, 2024Disclaimer & Declaration of Interest
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