Ig Design Share Discussion Threads

[blackhorse23] 28/4/2022 09:07

New incoming non executive director bought shares . Excellent news

[blackhorse23] 27/4/2022 13:35

Huge revenue stream of 963 million which is good

[wigwammer] 27/4/2022 09:16

Agree - tricky markets, and with inflation cash is not particularly attractive either. But that's why I like stocks like IGR - they are already priced for an uncertain environment.

[darrin1471] 27/4/2022 09:04

"expected to return the USA back to an operating margin of c.5-6% by FY25"
Agree that 3-5 year return should be good.
But FY25 is a long way off in a world of inflation, China zero covid and Ukraine.

I nearly got burnt in 2009 with a company with zero debt unable to borrow for cash flow. They went into a flat pack administration with private equity. Unlikely to happen with IGR as times are different and due to Hedlund family holdings.

Still not holding IGR. Thought I may start buying after pre close trading update.
Due to historical share price there will be a lot of interest in a IGR recovery. Wider market woes and latest trading update may result in me keeping my powder dry. But may buy a few at or below 68 if we see that again today.

[darrin1471] 27/4/2022 09:02

Current banking strength should make funds available to companies like IGR but at what cost. Fees & %

[wigwammer] 27/4/2022 08:11

Darrin - they are being granted the loans, which means somebody with more information than you and I is confident they can honour it. That's the key positive hidden in todays RNS.

[eezymunny] 27/4/2022 07:57

Indeed darrin, but we´re not supposed to value ANY company simply on what happens this year. We´re supposed to look out into the future. And if they get back to 5% margins then we have a multi-bagger on our hands. May not happen of course, but that´s the sensible discussion IMO, not this year´s increased finance charge.

[value hound] 27/4/2022 07:55

Personally, I was glad to be able to buy more at 70p. Even on a fairly muted recovery over the next c.3 years or so, I still come out at a more reasonable valuation of around $270m / c.220pps.

Obviously things may not progress so smoothly but it looks good to me on a risk-reward basis.

[darrin1471] 27/4/2022 07:48

The US losses this year were incurred due to the late delivery of product into the US. The one off costs being overtime and premium deliveries getting seasonal stock into stores.
Now there is higher working capital requirements on an average increase in debt of $60-$65m. With US inflation around 8% then what is the % on a loan?
Outlook "adjusted loss before tax expected to be broadly flat on the Group's FY22 results, driven primarily by increased finance charges in the year ahead."

[wigwammer] 27/4/2022 07:36

I agree, eezy. 5% op margin would take this share back to £3+. Not a bad return over a few years. ATB :)

[wigwammer] 27/4/2022 07:16

"Group operating margin is expected to be 0.5% delivering Group operating profit(1) marginally ahead of previously communicated expectations, reflecting a stronger than anticipated performance in the USA."... not sure why people feel the need to post selective negatives. Couldn't buy in any vol under 70p.

[darrin1471] 27/4/2022 07:14

Hoped we would get a CEO and the review of the US business.

[darrin1471] 27/4/2022 07:13

Little volume on the results then 100K @ 68

[darrin1471] 27/4/2022 07:09

Last year:
"adjusted post-tax losses to be significantly below market expectations."
Outlook for this year:
"adjusted loss before tax expected to be broadly flat on the Group's FY22 results"

So FY23 results are going to be a loss and significantly below market expectations as well.

[wigwammer] 27/4/2022 07:01

Here comes pug.. master of identifying what is going to happen, AFTER it happens :)

[pugugly] 27/4/2022 06:59

But "As a result of the lower than previously expected future earnings in the USA, the Group will book in FY22 a non-cash one-time reversal of deferred tax assets, meaning that adjusted post-tax losses and adjusted loss per share are expected to be significantly below market expectations."

I am awfully sure that t2t may be correct.
What a horrible fall from grace for IGR

[blackhorse23] 27/4/2022 06:53

Strong revenue growth to £963m up 10%

[time 2 retire] 27/4/2022 06:46

Looks like opening at 68/70p so news not welcome.

[netcurtains] 27/4/2022 06:45

What was good about the trading update is that demand for products remains very high, they have managed to get the raw materials they need and 2023 is expected to be better.
So not sure if this means the share price will rise or fall loads.
Be interesting to see.

[darrin1471] 27/4/2022 06:38

Further insight into the strategic plans in the USA and across the whole Group at the full year results announcement in June

[darrin1471] 27/4/2022 06:08

Trading update

As a result of the lower than previously expected future earnings in the USA, the Group will book in FY22 a non-cash one-time reversal of deferred tax assets, meaning that adjusted post-tax losses and adjusted loss per share are expected to be significantly below market expectations.

USA back to an operating margin of c.5-6% by FY25:

Outlook

marginal operating profit improvement in FY23
with the adjusted loss before tax expected to be broadly flat on the Group's FY22 results

Average debt of the Group is expected to increase to c.$75-$80 million across the 12 months to 31 March 2023, compared to c.$15m in FY22

[rcawthra007] 26/4/2022 14:43

CLOCKTOWER What a little bundle of joy you are today.

[blackhorse23] 26/4/2022 12:10

Institutions are buying

[clocktower] 26/4/2022 11:57

Why do we want to buy the sort of junk this company imports from China, so the less containers of tomorrows landfill all the better, plus time one and all stopped buying Chinese goods, because before long they could be doing much the same as Russia.