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Published on: June 11, 2018

Final Results

IG Design Group have today announced final results for FY2018. All the financials were in line with our expectations with fully diluted and adjusted EPS of 21.8p. The final dividend of 4.0p is 0.5p higher than our forecast. The Group continued with its strategy of growth through organic product and market diversification, combined with strategic M&A. This fuelled underlying revenue growth of 5.8% and EBIT margin expansion to 7.0%. The Group’s strong market position combined with a target adjusted EBIT margin of 8% and a more advantageous effective tax rate of 24% (from 28.3%), has led us to upgrade our forecast EPS to 25.0p from 23.6p for FY2019E and to 27.3p from 25.5p for FY2020E. We also increase our dividend forecast to 7.25p from 6.5p for FY2019E and 8.5p from 7.5p for FY2020E.

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