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IGR Ig Design Group Plc

214.00
6.00 (2.88%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ig Design Group Plc LSE:IGR London Ordinary Share GB0004526900 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  6.00 2.88% 214.00 210.00 218.00 216.50 206.50 208.00 302,171 16:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Convrt Paper,paperbd Pds,nec 890.31M -27.99M -0.2829 -7.56 211.7M
Ig Design Group Plc is listed in the Convrt Paper,paperbd Pds sector of the London Stock Exchange with ticker IGR. The last closing price for Ig Design was 208p. Over the last year, Ig Design shares have traded in a share price range of 106.25p to 228.50p.

Ig Design currently has 98,926,000 shares in issue. The market capitalisation of Ig Design is £211.70 million. Ig Design has a price to earnings ratio (PE ratio) of -7.56.

Ig Design Share Discussion Threads

Showing 4726 to 4749 of 5100 messages
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DateSubjectAuthorDiscuss
05/12/2022
08:46
Nice rise, again, today.
hamhamham1
02/12/2022
22:22
Not talking about equity. Total liabilities, current AND non current comes to half a billion dollars. The venture into the US was ill advised. Inventory levels in the hundreds of millions.
Directors hold a pitiful amount of shares, negligible in fact. Not a single director has bought or added after results. Red flags.
Having said that NAV = 315p and price to sales is ridiculously low.

justiceforthemany
02/12/2022
21:23
Last H2, inventory, receivables and cash started at $654m and finished at $411m. That's a drop of $243m. Most of this freed cash was put to use to reduce liabilities - the bank overdraft, loans and borrowings dropped from $155m to $20m in H2 and trade payables dropped from $224m to $143m. Thats a combined drop of $216m.

This H2, inventory, receivables and cash start at $614m - $40m lower. Bank overdraft, loans and borrowings start at $176m and payables at $187m. Together, these start at $363m - $16m lower. You can still expect $200m+ generated from reducing current assets to be used to reduce the same liabilities in H2. The overdraft loans and borrowings will be reduced to maybe $30m and payables to maybe $120m. In the scheme of things, the year-end $30m of debt is almost negligible (so where does talk of high debt come from?) and might even be almost wiped out if margins continue to improve. Noises are good on that score. The overdraft, loans and borrowings are essentially financing working capital in stockbuilding season and paid off in H2.

Debt is not very high averaged out over the year. That's why interest is only $5m. It was almost negligible at last year-end, and should be only marginally higher this year-end but they will need a bigger facility to manage the large working capital swing if they expect to grow. A higher rate of bank base +3% from here under the temporary smaller facility is going to cost quite a bit more than the bank base +1% - on a lower base rate - that went before it on a larger facility. Presumably they are seeking a full refinancing to try do something about that - maybe more term debt and/or secured debt at a slightly lower rate to put a bit more cash on the balance sheet for flexibility, and less reliance on a revolving facility?

Sales up. Orders up. Margins rising. Underlying operating cashflow increasing. Profit ahead of forecast. Debt looks modest but slightly mismatched to needs. A better match is in the pipeline. Things look on the up - at least until the next global crisis rears its head. The shares are rising on several good trends in the numbers.

aleman
02/12/2022
17:49
Last accounts according to HL showed a net asset value of £369m.
hamhamham1
02/12/2022
17:06
Half a billion total debt!
Have you had a Friday afternoon tipple?
Debt is nowhere near unless I've missed summat!

time 2 retire
02/12/2022
16:59
I am a holder here but I suggest people look at the balance sheet - half a billion total debt and making a small to negligible profit is the real problem here.
justiceforthemany
02/12/2022
13:25
"Board will shortly initiate the development of a growth-focused strategy." was mentioned several times in the interim results.
This was not being talked about 6 months ago.
Pre covid growth plan was for $1.5bn and adjusted EBITA of $150m through organic growth and M&A.
M&A targets did appear to of been identified.
So if IGR are talking about a new growth strategy, then the intention to "fully refinance in H2 2023" should include organic growth and may include M&A growth.
With finance now being more expensive and harder to get, then dividends may have to take a wait a while if IGR want to take advantage of the growth opportunities they see.

darrin1471
02/12/2022
12:30
Santa rally in full swing - once dividends are reinstated this is going to be a great investment for my pension pot - reckon at the price I bought in the 80s this will in a few years pay me 20% a year in the not too distant future
wall street trader
02/12/2022
08:50
Nice 4% rise.
A nice steady climb would suit me.

hamhamham1
02/12/2022
08:34
I'll take that :)
hamhamham1
02/12/2022
08:11
I don't think the dividend should restart so low. The company only has debt needed to manage a pretty tough working capital cycle. That was aggravated by delivery problems so it cut the dividend to temporarily build extra advance stocks. The problem seems to have passed. (Other companies are also reporting less supply chain disruption AND an improving input cost situation.) I don't see why the dividend can't return quickly to previous levels. It could soon be higher. The company has grown. Marketscreener has consensus of two brokers at 4p dividend in 2024 then 11p in 2025.
aleman
02/12/2022
07:48
Divis were 8 or 9p last couple of years before covid.
Hopefully will start with say a 1.5p maybe next year, but happy for them to get solid footing before they start.
Divis are nice here, but I see capital gains as the real potential.
Could get say to 250p that would be up another 130p, that's nearly 15x old annual high divis levels.

hamhamham1
02/12/2022
07:31
Yeah, up 2% to nearly 12.25% now.
hamhamham1
02/12/2022
07:11
The company Broker picking up another 2 million+ shares for its clients has got to be a good sign.
time 2 retire
01/12/2022
17:59
Should have reinstated the dividend, even if it was a token one. Changes sentiment and share price would have surged. Bad management.
justiceforthemany
01/12/2022
14:22
That's not my investment timescale. Such steep rises are usually unsustainable. In my book, looking at anything that short is just gambling. I'm usually looking for more sustainable channels that reflect fundamental improvements in a company's current and future figures. The ones I look for will usually occur over a few months to a few years.
aleman
01/12/2022
14:18
Depends upon the timescale. +50p and + 60% in the last month is steep
darrin1471
01/12/2022
13:20
It does not look like a steep uptrend but it's around 8p per month. Could it be £1 higher in 12 months? With about $50m underlying annual operational cashflow, and rising, I don't see why not.


free stock charts from uk.advfn.com

aleman
30/11/2022
16:33
Looks like the consensus dividend for 2024 has dropped from 5p to 4p (Why!? These numbers looked good.) but the 2025 dividend is unchanged at 11p. I'm not sure all revisions have been absorbed yet but it's still looking like a good recovery is under way.
aleman
30/11/2022
16:21
"we prudently temper FY24E forecasts albeit continue to forecast a meaningful yoy PBT improvement to $18.5m as the turnaround plan and margin initiatives gain traction"

Downgraded FY24E. wtf. I thought they would of been upgrading?

Hoping that is wrong and not what IGR indicated.

darrin1471
30/11/2022
14:57
And some Cannacord commentary (seem far more upbeat than Progressive which will be company fed numbers- maybe guiding very cautiously?)

The Group’s H123 results show strong growth in sales, profitability and cash generation. After the challenges of FY22, this positive first-half performance demonstrates that the Group’s established relationships with customers have been sustained, despite the welldocumented supply chain challenges of the last 18 months, and that demand for the Group’s products remains robust. The strong performance reflects the acceleration of seasonal orders by customers to ensure supply ahead of peak periods alongside "catchup" price rises. Progress continues to be made to restore US operating margins to 5-6% with a number of initiatives underway and gaining traction, whilst cost savings are also being achieved. Importantly, the Group’s order book remains healthy at 93% of budgeted revenues (vs 91% last year), confirming customer loyalty. The strong H1 performance drives an upgrade to our FY23E profit forecasts, with the Group now forecast to achieve a small adj. PBT of $3.4m, compared a forecast loss of $1.7m previously

Given the acceleration in seasonal orders, we expect FY23 results to be strongly H1 weighted. In light of the positive H1 performance, combined with stronger-than-expected trading in certain Everyday categories, the Board now expects FY23 results to be ahead of expectations. We now forecast FY23E PBT of $3.4m, compared to a $1.7m loss previously. We now expect average debt across FY23E to be below $40m, lower than our expectation of $75-80m at the start of the year. With the global macro outlook remaining uncertain and expectations of a challenging pricing environment, we prudently temper FY24E forecasts albeit continue to forecast a meaningful yoy PBT improvement to $18.5m as the turnaround plan and margin initiatives gain traction

On revised forecasts, IGR trades on a Mar’23E EV/EBITDA of 4.5x dropping to 3.0x Mar’24E, highlighting inherent value. We reinstate our BUY recommendation with a 200p target price (was 620p prior to placing Under Review). Our target price is based on a c.5x CY23E target multiple, which represents a c.40% discount to the long run average of c.8.5x. This discount reflects a degree of execution risk around the turnaround strategy with near-term forecast operating margins still c.50% of the margins seen prior to the pandemic. We continue to believe that the medium-term prospects of the Group remain positive and that margins will recover and ultimately advance under the new senior leadership team.

se81
30/11/2022
14:53
yes darrin for 2024E....

Progressive: rev $919m, adj EBITDA 49.5m, fully adj PBT $11m, fully adj EPS 7.3c

Cannacord: rev $918m, adj EBITDA 60.5m, fully adj PBT $18.5m, fully adj EPS 13c

I believe I've pulled the correct figures out for comparison

se81
30/11/2022
14:51
I don't think lance is leaving, maybe he's staying on in America till that date.
time 2 retire
30/11/2022
14:33
Senior Team Changes "Lance Burn available to end October 2023"
Leaving ? Lance will be 59 ish

darrin1471
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