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(Sharecast News) - IG Design Group reported full-year revenue, profit margin and cash ahead of market expectations on Tuesday, despite a challenging trading environment, as the disposal of DG Americas left the business more focused and cash generative.
The AIM-traded celebration and creative products maker said continuing revenue fell 3% to 217.9m in the year ended 31 March, reflecting tariffs, pricing pressure and softer UK demand.
Adjusted operating profit declined to 9.6m from 16.0m, while reported pre-tax profit fell to 6.3m from 9.0m and year-end net cash stood at 54.6m.
IG Design proposed reinstating its dividend with a 1.0p final payout and said it would launch a share buyback of up to 10% of issued share capital.
Interim executive chair Stewart Gilliland said the group had delivered "a strong performance in the year, exceeding expectations despite a challenging trading environment", adding that it was entering the next phase with a stronger balance sheet, a more focused operating model and renewed leadership.
At 1158 BST, shares in IG Design Group were down 3.52% at 84.9p.
Reporting by Josh White for Sharecast.com.
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