Published on: November 27, 2018

Interim Results

Design Group have announced Interim Results for H1 FY2019E. There was strong growth in both revenues (23%) and underlying operating profit (71%), driven by organic sales growth, the contribution from the newly acquired Impact Innovations in the US and margin expansion across all geographic segments. Net debt of £100m was in line with expectations and average gearing of 1.3x adjusted EBITDA continued to be comfortably below targets. Management have indicated that this strong progress will continue into H2 so we increase our EPS forecast from 25.9p to 27p for FY2019E and retain our forecast of 31.5p for FY2020E.

Related Content