IG Design Group Plc (IGDFF), a stationary and gifting products maker, on Tuesday posted a pre-tax profit for the full year, helped by the improved profits and margin recovery across both DG Americas and DG International.
However, the Group registered a decline in revenue due to a weak demand.
For the 12-month period to March 31, the company posted a pre-tax income of $23.842 million, compared with a loss of $18.896 million in the previous year.
Excluding items, pre-tax earnings surged to $25.9 million from $9.2 million in 2023.
Net profit stood at $37.119 million or 36.6 cents per share as against last year's loss of $26.459 million or 28.6 cents per share.
Adjusted profit was at $17.4 million, higher than $1.4 million a year ago.
Excluding items, income per share was 16.3 cents, compared with a loss of 0.2 cents per share in the previous year.
Operating profit was $28.996 million, versus a loss of $12.023 million a year ago.
IG Design registered adjusted operating profit of $31.1 million, up from $16.1 million last year.
A significant rise in adjusted operating profit was driven by continued positive momentum in DG International, ongoing restructuring initiatives in DG Americas, and improved sourcing.
DG Americas reported adjusted operating income of $6.8 million, higher than $2.9 million a year ago.
Adjusted operating income from DG International stood was reported at $32.3 million as against $19.8 million last year.
EBITDA improved to $60.3 million from last year's $52.9 million.
Adjusted EBITDA was at $61.1 million, higher than $48.4 million a year ago.
Revenue slipped to $800.1 million from previous year's $890.3 million.
Looking ahead, the Group, said: "Two years into the Group's three-year turnaround, we remain confident that we will restore, by 31 March 2025, the Group's adjusted operating profit margin to at least the 4.5% that was the proforma pre-Covid-19 margin following the acquisition of CSS in March 2020. Our actual aspiration is to deliver 5% by March 2025, and this should return the Group to its historic highest level of profit delivery, which was an adjusted profit before tax of c$35.8 million delivered in FY2019."
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