Celebrating in style

IG Design has delivered very good interims, with excellent organic growth supplemented by an outperforming acquisition and further boosted by currency. Order books for H217 and into FY18 reassure that top-line momentum continues, with operating efficiency gains helping offset the transactional effect on margin from currency. The group’s increased scale is accelerating pay-down of net debt, possibly eliminating it by end FY18. A 61% gain in the share price over the last six months reflects the market shifting its view of IG Design’s financial strength and dividend growth potential.