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IG Design ( (GB:IGR) ) has provided an update.
IG Design Group plc has announced a trading update for the nine months ending December 31, 2024, highlighting the impact of challenging market conditions and retail trends on its operations. The company noted significant distress among its US retail customers, leading to protective arrangements or bankruptcies, which have necessitated substantial financial provisions and affected future revenue projections. With these challenges, the group’s revenue and profit expectations for the fiscal year ending March 31, 2025, have been revised downward, and plans to return to pre-pandemic profit margins have been adjusted. The company remains committed to strengthening its business model and is optimistic about the leadership of Sue Buchta, the new CEO of DG Americas, in driving the division’s turnaround.
More about IG Design
IG Design Group plc is a leading global designer, innovator, and manufacturer in various celebration and creative categories. The company focuses on simplifying business operations, enhancing efficiency, and implementing cost-saving measures across its divisions, with a particular emphasis on the DG Americas division.
YTD Price Performance: -4.26%
Average Trading Volume: 161,630
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £144.9M
See more insights into IGR stock on TipRanks’ Stock Analysis page.
