Wrapping paper by the IG Design Group
The IG Design Group, which holds the Royal Warrant to supply the Queen with her Christmas crackers, has seen revenues soar after continued growth overseas.
The Bedfordshire-headquartered group saw total revenues rise 31% to £311m for the year ended 31 March, up from £237m in 2016.
This was heavily boosted by its continued growth overseas – with the European and US markets accounting for 73% of its overall business.
Another factor helping contribute to the performance was the acquisition of The Lang Group of Companies which is now fully integrated into the group.
CEO Paul Fineman said: “It is a great pleasure to once again be reporting a year of tremendous progress, with many record outcomes achieved throughout our business.
“Not only have sales and profits exceeded our goals, but our continued focus on cash generation is such that we have been able to fund growth with fast payback capital expenditure, eliminate year end debt yet simultaneously accelerate dividends from 2.5p to 4.5p.
“Whilst continuing to perform with strength, pleasingly we are also ensuring our business is well diversified, invested for the future and with a distinct competitive advantage.
“Having re-branded as ‘Design Group’, we are increasingly able to leverage our global scale as a diversified, design-led, multi-product category and multi-channel business supported by world-class manufacturing and sourcing operations.
"We are very well placed to continue to grow organically and through product development and innovation, well-considered acquisitions, capitalising on our growing market share and the excellent momentum prevailing throughout the group.”