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Published on: November 28, 2023

Strong profit growth, key strategy initiatives and quantified aspirations

IG Design Group delivered a 27% increase in adjusted PBT to $34.8m for H1 FY24 (to 30 September) with a significant reduction in net debt to $15.1m, as signposted in last month’s trading update. The adjusted operating profit margin was some 270bps higher at 8.6% (vs 5.9% in H1 FY23), the highest achieved since H1 FY20 ahead of the CSS acquisition. Management has provided more details on the key attributes and initiatives for its new growth-focused strategy. The group is on track to return to pre-Covid adjusted operating margins, aspiring to a 5% level in FY25E compared with FY20’s pro forma 4.5% (including CSS on a FY basis), rising to over 6% in FY27E on a $900m revenue aspiration.

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