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magazineIG Design shares are holding up well
IG DESIGN (IGR:AIM) 705p
Gain to date: 1.1%
Original entry point: Buy at 697p, 19 December 2019
Shares in greeting cards, gift packaging and creative play products maker IG Design (IGR:AIM) have held up well amid the market carnage with investors cognisant of the group’s excellent long-term growth prospects.
Following the seasonal trading period and the completion of its CSS acquisition, IG Design assured (4 Mar) it is on track to meet market expectations and is closely monitoring the developments regarding coronavirus and its potential impact on the business.
‘With the current known scale of the outbreak, it is not expected that there will be a material impact to the group’s current forecasts,’ assured IG Design, whose China factory is operating, with production volumes expected to increase over the coming weeks.
IG Design also explained: ‘We continue to work with our suppliers in China to ensure deliveries of our customers’ orders are managed through this period, including as necessary, mitigating strategies such as alternative sourcing arrangements and using existing inventory reserves.’
Having wrapped up the takeover of CSS on schedule, IG Design is pressing ahead with integrating an acquisition that doubles the size of its US business and dovetails nicely with previous purchase Impact Innovations.
SHARES SAYS: We remain enthused by IG Design, the CSS deal looks a positive purchase and the company appears to be doing well in dealing with the coronavirus situation.
Important information:
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