Ig Design Share Discussion Threads

[darrin1471] 10/8/2023 15:15

Details in 2023 annual report.



"Directors to build up a holding of shares equal in value to 100% of their salary before any shares are sold."

[darrin1471] 10/8/2023 14:07

Both relatively new to the company.

[wisecat2] 10/8/2023 10:44

Looking at this one. CEO has options of around 950k but only owns 110k shares.the CFO only owns 43k shares. Sometimes you want more skin in the game or am i being unfair in this case ?

[darrin1471] 26/7/2023 15:02

Monday, highest volume for a month as seller sold in low 120's ahead of the 50ma crossing the 200ma on Tuesday. IGR rallied today on much lower volume.
Large holder may try and manufacture a move above 50ma (141p)to break downward trend.
IMO, negative share price trend likely to continue ahead of negative H1 results at the end of the year
I hold no current position in IGR

[volsung] 19/7/2023 15:27

Sold half my holding
These don't seem to be joining in the rally for some reason

[tomps2] 22/6/2023 09:48

IG Design Group (IGR) FY23 results presentation - June 23

IG Design Group Non-Executive Chair, Stewart Gilliland and CEO/CFO Paul Bal present results for the year ended 31 March 2023, followed by Q&A.

Watch the video here:

Or listen to the podcast here:

[darrin1471] 21/6/2023 19:15

Low volume today.
Yesterdays big trades were below the 200ma of 135p

[time 2 retire] 20/6/2023 17:56

"profit margins" not "revenues"
Even better.

[ottrott] 20/6/2023 17:45

Great, FY19 rev was only $584m. Jeez.

[darrin1471] 20/6/2023 17:36

"aspiration to return to pre-pandemic operating profit margins by FY2025"

t2r "profit margins" not "revenues"

[time 2 retire] 20/6/2023 14:46

I just re-read this mornings RNS now I'm fully awake, not all that bad really, if you strip out the one off uk goodwill payment (hopefully) then we're heading in the right direction.

Profit quadrupled and cash in bank up by 20 million dollars.

No divi planned for this year but hopefully next when they say they'll be back to pre pandemic revenues (FY25).

So maybe this ship is slowly turning and heading back eventually to where we once was.

GLA.

[tonytyke2] 20/6/2023 10:05

Let's see what's happens, got some more at 134p.Stocko's small cap value report gave this the thumbs up this morning, highlighting the risk/reward here. Their current stock rank is 99 for IGR!

[wall street trader] 20/6/2023 09:51

great turnaround never topped up which was a shame

[darrin1471] 20/6/2023 08:39

A couple of early chunky trades
2x 120k @ 128 and 225k @ 125

[darrin1471] 20/6/2023 08:35

I don't think anything said on this thread will significantly effect the IGR share price so my negative outlook is not a short play but a genuine worry that the short term outlook is poor.
I have not read the results in full yet, but only taken a quick look.
US consumer sentiment is falling and so are advanced orders. UK orders are down. What are the reasons for this? Competition or trying to push margins to high?

[wall street trader] 20/6/2023 08:25

Might have missed my chance there - the spread was quite large

[wall street trader] 20/6/2023 08:09

yes me too I am looking to add so will look at some technical areas to buy more

[bubloo] 20/6/2023 08:04

I see it trending lower with no near term news

[wall street trader] 20/6/2023 08:02

very little activity here - have turned a profit so expect this to recover well from here

[time 2 retire] 19/6/2023 14:48

1471,
i take very little notice of the UK positions these days, USA is where its happening and they seem to be turning a corner plus their economy doing much better than our tory "I avnt a clue" led government.

The write down has already been touted in the past so I'm hoping it's just the one off and we move forward from here.

I read in the past also that we're looking at restarting the divi this H1 so I'm interested to see if any forward guidance given on this in the morning.

[darrin1471] 19/6/2023 14:24

I'm not expecting anything positive for the rest of this year.

"Due to the recently deteriorated trading, and very limited pricing expectations for Christmas 2023 in the United Kingdom, the Group is likely to incur a one-off, non-cash write-down to the historic goodwill value associated with certain businesses in that market. The Directors expect this to significantly impact the reported results for
the year"

[time 2 retire] 19/6/2023 13:59

Full year results in the morning, I hope we've finally turned a corner....

[darrin1471] 05/6/2023 16:23

For reference, the PREVIOUS rcf details from the 2022 annual report:

As previously announced, on 1 June 2022 the Company extended the term of its existing banking agreement to 31 March 2024. As part of this extension, covenants have been
revised for the period to 31 March 2023. The amended facilities comprise:
• a revolving credit facility (‘RCF A’) which has reduced from $95.0 million to $90.0 million; and
• a further flexible revolving credit facility (‘RCF B’) with availability varying from month to month of up to a maximum level of £92.0 million (reduced from a maximum level of £130.0 million)
Banking and legal fees associated with the amendment and extension of the facility totalled c.$1 million

[se81] 05/6/2023 15:27

Ah ok- some details from progressive

IG Design has announced a successful and favourable outcome to the refinancing of its lending facilities. The new arrangement replaces the previous revolving credit facility (RCF) agreement from 2019, which was subsequently renegotiated in 2022. The new three-year facility is for $125m through an Asset Backed Lending (ABL) structure. This flexes in line with the group’s US receivables and provides ampleheadroom to finance the key working capital needs over the duration of the facility. In a world of risingcentral bank interest rates,thelower quantum of the facility coupled with the lowermargin than the previous facilityshould help managethe direct finance chargesassociated with the facility,as well as providesavingsinnon-utilisation fees.

New lending facilities−a successful outcome. IG Design has announced the successful renegotiation of its debt facilities after a thorough and rigorous process to secure the most appropriate arrangement to best suit its financing requirements. The new facility has been agreed with (existing relationship) providers HSBC and NatWest for $125m, together with an extension of its overdraft facility already provided by HSBC. The new facility is an ABL structure, which replaces the previous RCF structure, and is secured with an all-assets lien in the USAand an all-assets security in the UK.

Facility terms−lower margin secured. The new facility carries an initial bank margin of 1.75% to2.25% over the forward-lookingterm rate based on the US Secured Overnight Financing Rate (SOFR), which stood at 5.08% on 1June. The margin delivers a markedsaving against the previous 2.5% negotiated on the extension of facilities in 2022, which was set to rise to 3.0% from June 2023 until March 2024. Given the long and careful process of renegotiation, which has included the fall-out of the Silicon ValleyBank situation in the US banking arena, the favourable outcome is to be applauded and should be well-received by investors.

Next newsflow − FY23 full-year results. The group is scheduled to announce its full-year results for FY23 on Tuesday 20 June. This will include full details of the new financing arrangements. Having announced the appointment of its new CFO, Rohan Cummings,in early May, investor focus will likely be on operational progress, along with any articulation of updated strategic direction to deliver the group’s longer-term goals