IG Design Group PLC Trading Update (3767I)
30 Agosto 2016 - 8:01AM
UK Regulatory
TIDMIGR
RNS Number : 3767I
IG Design Group PLC
30 August 2016
30 August 2016
IG Design Group PLC
(the "Company", the "Group" or "Design Group")
Trading Update
IG Design Group plc, one of the world's leading designers,
innovators and manufacturers of gift packaging and greetings,
social expression giftware, stationery and creative play products,
is pleased to provide an update on the first quarter's trading
period ending 30 June 2016.
Highlights
-- First quarter trading is in line with management and market
expectations
-- Growth across all regions
-- Benefits being delivered from capital investment projects
Across the Group, sales during the first quarter, together with
overall customer order levels already received for the balance of
the year, are in line with management expectations.
The Group is on track to deliver against market expectations for
the full year with opportunities for incremental growth in the
second half of the year.
Americas
Sales volumes continue to grow, through our broadening product
offering and to our extended customer base. New business includes
sales to regional grocery and drug stores in the USA. Exports to
Mexico are on track to double and exceed $2 m during the year.
Operational and commercial integration of the recently acquired
Lang Companies Inc. is proceeding well with the business performing
in line with management expectations. Synergy opportunities have
already been identified and should be largely realised during
17/18.
The phased programme of investment in its US based gift wrap
production facilities is already benefiting the Group with enhanced
levels of production efficiency being achieved.
Australia
Overall, the business is trading in line with expectations, with
growth especially strong in the party ware category.
The Group has won a major new contract for the supply of every
day greetings cards, with an estimated annual volume of over ten
million cards. This contract is over three years and will roll out
towards the end of 2016.
Following its expansion into party ware, the Group has been
awarded new licensed categories across all Disney, Marvel and Star
Wars franchises.
The Group's installation of new and efficient order picking
facilities in its Melbourne Distribution Centre has been
implemented on time and on budget. This has underpinned excellent
service levels and the Group's ability to manage larger volumes
within the Australian market.
UK
Growth has been augmented by increased volumes of party ware
products, which further enhances the Group's comprehensive offering
of 'Celebrations' focused categories.
Sales of licensed stationery for the "Back to school" period
include new licenses, such as the highly popular Paw Patrol, Secret
Life of Pets and Finding Dory franchises.
The continued evolution of the product mix sold to the UK market
has been supported by investment in automation in China, enabling
the Group to further enhance its share in the gift bag and
greetings card market, both for everyday and Christmas.
Continental Europe
The Group has achieved record sales and production levels of its
core gift packaging product categories, across its existing
customer base and to new customers throughout Europe.
Through its standardisation of its wrap manufacturing processes
and materials usage, the Group is driving efficiencies and
synergies through economies of scale and shared best practice.
Paul Fineman, Group CEO, commented:
"The Group has made a most encouraging start to the year with
our order book at record levels and an excellent blend of sales
activity across categories, regions and brands, both with new and
existing customers.
"We are also pleased to have 'hit the ground running' with the
integration of our new business in the US - Lang Companies Inc.
Early indications are positive and we are confident of future
growth opportunities. This is particularly pleasing alongside the
robust organic growth that we are achieving throughout the
Group."
- Ends -
For further information, please contact:
IG Design Group plc Tel: 0152 588 7310
Paul Fineman, Chief Executive
Anthony Lawrinson, Chief Financial Officer
Cenkos Securities plc Tel: 0207 397 8900
Bobbie Hilliam
Alex Aylen
Redleaf Communications Tel: 0207 382 4730
Rebecca Sanders-Hewett designgroup@redleafpr.com
Sarah Fabietti-Dallison
Susie Hudson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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