Ig Design Share Discussion Threads

[daz] 21/4/2015 09:19

Update out from Edison:
EPS Mar 2015 - 11.7p, Mar 2016 12p
Debt - Mar 2015 - 30m, Mar 2016 26m

They say the dollar strength will affect 2016 earnings. The 2016 debt figure is after expected US investment capex, so underlying debt reduction is actually stronger

[interceptor2] 21/4/2015 09:01

Thank you Daz, worth knowing that there is some selling pressure, I won't chase the price higher but will add gradually.

[time 2 retire] 21/4/2015 08:52

Full year figures out June 23rd say EDISON,

[daz] 21/4/2015 08:32

I think if you're patient interceptor, you'll be able to pick up more at closer to 90p, there have been some sellers over the last year.
I'm hoping though that some new institutional buyers will become interested now that the dividend has been restored.

[interceptor2] 21/4/2015 08:26

Excellent trading update that I couldn't ignore, bought in at the open, not easy to buy a decent amount.

I see that I am in good company here with well respected posters already holding ;O)

[time 2 retire] 21/4/2015 08:09

£1 touched just then.

[daz] 21/4/2015 08:07

The great thing about this RNS is that 2016 will also be revised upwards, so we could see earnings over 11p this year and with debt set to fall much further as well.
Even after the rise this morning, the shares are still only on a probable forward p/e of around 8 - 8.5, which is still excellent value - no reason to sell yet.

[jeff h] 21/4/2015 08:01

Great statement and delighted for t2r who has kept us all informed for so long.

As psolomons says surplus property cash still to come as well.

Edison etc will no doubt update the forecasts after consulting the company so we will have an idea of the scale of the forecast increases in a day or so.

[time 2 retire] 21/4/2015 07:56

The full set of numbers will be issued in July Shanklin.

Looks like we could be opening up 5p which will be a new 7 year high..

[daz] 21/4/2015 07:48

I'll echo what LG says, what a stunning RNS to see first thing.

Martin, Barclays have an EPS forecast of 9.15p for Mar 2015 and 10.75p for 2016, the RNS as you say doesn't give numbers but I would imagine that they are at least 5% ahead on EPS.

[edit]
Edison have the year end debt figure at £36m, which they say is 2.2x forecast EBITDA, it's difficult to come up with a new figure as the new EBITDA isn't known but it looks likely to be 1 or 2m off that, I would say.

[shanklin] 21/4/2015 07:44

Do they never provide any numbers? Its all great but rather vague.

[psolomons] 21/4/2015 07:36

Debt down more than expected and the Hirwaun site money hasn't come through yet. Dividends restored. 0800 should be interesting.

[lord gnome] 21/4/2015 07:32

All I can say is 'Wow'! What an RNS to wake up to.

[psolomons] 21/4/2015 07:27

Superb trading update !!

[time 2 retire] 21/4/2015 07:15

Brilliant, and back on the divi list for first time in over 7 years.......

Trading Update

International Greetings PLC, one of the world's leading designers, manufacturers, importers and distributors of gift packaging and greetings, stationery and creative play products, is pleased to announce a trading update in relation to the 12 months ended 31 March 2015.

Highlights:

-- Financial performance ahead of expectations, further enhancing earnings per share
-- Significant reduction in leverage
-- Target of ratio of year end net debt to EBITDA below two times achieved a year ahead of schedule

-- Resumption of dividend payment
The Group is pleased to confirm that progress made both during the final quarter and the year has been very encouraging resulting in the Group's financial performance for the year ended 31 March 2015 exceeding current market expectations. The combination of excellent overall operating performance, lower financial costs and an improved mix of tax rates across the Group's global portfolio, will significantly enhance earnings per share.

The Group is also delighted to confirm that progress made on debt reduction has been significant, with substantial reductions in working capital achieved. Consequently, the Board's key target to bring the ratio of year end net debt to EBITDA below two times has now been comfortably achieved a year ahead of schedule.

As a result of the above and as previously signalled, the Board is pleased to confirm that the Company will return to the dividend list and a final dividend will now be declared in respect of the year ended 31 March 2015.

This year our UK and European businesses have delivered strong results; underpinned by yielding savings ahead of schedule as a result of the successful execution of our capital investment programme in the UK and excellent integration of our acquisition of Enper BV in Europe. Both these initiatives have helped compensate the challenging conditions faced by our joint venture in Australia.

In the US, whilst top line growth remains strong, there is scope for margin and efficiency improvements. We also announce the appointment of Gideon Schlessinger as CEO of International Greetings USA, following the untimely death last year of his predecessor, Rich Eckman. Gideon brings a wealth of experience in developing businesses with both US and global retailers and will lead a team of enhanced capability in a key region for growth.

The Group's businesses are engaged in trading with over 5,000 customers in more than 100,000 retail outlets across 80 countries, providing diverse revenue streams amid varying market conditions.

Commenting on the year's performance, Paul Fineman, Group CEO said:

"It is particularly pleasing to demonstrate an excellent outcome underpinned by fast pay back on investments recently made whilst having identified further opportunities to drive future progress in all regions."

[battlebus2] 21/4/2015 07:15

I thinks this deserves posting in full....

International Greetings PLC, one of the world's leading designers, manufacturers, importers and distributors of gift packaging and greetings, stationery and creative play products, is pleased to announce a trading update in relation to the 12 months ended 31 March 2015.

Highlights:

-- Financial performance ahead of expectations, further enhancing earnings per share
-- Significant reduction in leverage
-- Target of ratio of year end net debt to EBITDA below two times achieved a year ahead of schedule

-- Resumption of dividend payment
The Group is pleased to confirm that progress made both during the final quarter and the year has been very encouraging resulting in the Group's financial performance for the year ended 31 March 2015 exceeding current market expectations. The combination of excellent overall operating performance, lower financial costs and an improved mix of tax rates across the Group's global portfolio, will significantly enhance earnings per share.

The Group is also delighted to confirm that progress made on debt reduction has been significant, with substantial reductions in working capital achieved. Consequently, the Board's key target to bring the ratio of year end net debt to EBITDA below two times has now been comfortably achieved a year ahead of schedule.

As a result of the above and as previously signalled, the Board is pleased to confirm that the Company will return to the dividend list and a final dividend will now be declared in respect of the year ended 31 March 2015.

This year our UK and European businesses have delivered strong results; underpinned by yielding savings ahead of schedule as a result of the successful execution of our capital investment programme in the UK and excellent integration of our acquisition of Enper BV in Europe. Both these initiatives have helped compensate the challenging conditions faced by our joint venture in Australia.

In the US, whilst top line growth remains strong, there is scope for margin and efficiency improvements. We also announce the appointment of Gideon Schlessinger as CEO of International Greetings USA, following the untimely death last year of his predecessor, Rich Eckman. Gideon brings a wealth of experience in developing businesses with both US and global retailers and will lead a team of enhanced capability in a key region for growth.

The Group's businesses are engaged in trading with over 5,000 customers in more than 100,000 retail outlets across 80 countries, providing diverse revenue streams amid varying market conditions.

Commenting on the year's performance, Paul Fineman, Group CEO said:

"It is particularly pleasing to demonstrate an excellent outcome underpinned by fast pay back on investments recently made whilst having identified further opportunities to drive future progress in all regions."

-Ends-

[shanklin] 21/4/2015 07:12

Great trading update but frustrating, for me, without any numbers.

I would be interested in hearing, from those better informed on IGR than me, what the various numbers might be.

Thank you, Martin

[battlebus2] 21/4/2015 07:10

Great to read we are trading ahead!!

Fantastic update from a great co.

[time 2 retire] 16/4/2015 00:04

Top fund manager to launch £100m 'Aim' investment trust....

This is a bit of a coincidence, Gervais Williams is the guy who wrote the article posted on here by Davebowler on April 10th (1770) and the Miton group already holds more than 20% of IGR.

This share could rocket if the investment trust spends some of the planned £100m on more IGR shares.



Exciting times ahead.

GLA

t 2 r

[battlebus2] 14/4/2015 15:52

These have a lot of catching up to do as they have been stuck around this level since July 2014.

[lord gnome] 14/4/2015 15:34

The share price would appear to be being walked up by the MMs on negligible volume. Either that or a couple of big trades have gone through which haven't been printed yet. Whatever, more please.

[aleman] 14/4/2015 10:05

Well, the recent rise is a pleasant surprise. I always expected IGR would rise as I have fair value at 110p+ (and rising) but I didn't expect it to move until, maybe, after the trading update and, more likely, before and after the final results. I figured it would take a year or two from here get to fair value (by which time it would have risen further) but this suggests it could be a bit quicker than that.

[battlebus2] 14/4/2015 09:45

Oh great news hope your enjoying your retirement. Had a £1 target way back so in the light of recent trading I'm optimistic this time around.

[time 2 retire] 14/4/2015 09:37

From this board no mate but from IG yes-but i still keep my ear to the ground and get all the gossip for us.