IG Design (GB:IGR) has released an update.
IG Design Group reports an 11% decline in revenue for the first half of 2024, primarily due to challenges in DG Americas, but anticipates a profit rebound in the second half driven by cost-saving measures, including a Chinese facility closure. The company ended September with a net cash position of $7.4 million, a significant improvement from the previous year’s net debt. The full-year outlook remains positive with expectations of returning to pre-pandemic profit margins by the end of FY2025.
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