IG Design Group (AIM:IGR) said its first-half trading remains in line with full-year market expectations, with revenue for the six months to 30 September up roughly 12% to approximately £109 million.
The London-listed designer and manufacturer of celebration and creative products said the growth included roughly 8% organic expansion, stripping out the Glenart acquisition and currency translation effects.
Adjusted operating profit rose to approximately £5.7 million from £4.2 million in the prior-year period, which the group attributed to trading momentum and the winning of incremental customer tenders.
Glenart, the bolt-on acquisition completed in April, has traded in line with the board's expectations since joining the group.
Net cash stood at approximately £1.5 million at 30 September, with cash generation in the period described as robust and the underlying cash outflow broadly in line with the prior year; that compares with a year-end net cash position of £54.6 million at 31 March.
The group's new leadership team, led by chief executive Gerald Kuehr, is refining strategic priorities and medium-term growth plans, with a fuller update due alongside the interim results.
Market consensus for the full year stands at revenue of £222 million and an adjusted operating margin of 4.8%, against which the board said it remains confident of delivering results in line with guidance.
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