Sale of Property

RNS Number : 5318J

IG Design Group PLC

03 April 2018

 

3 April 2018

IG Design Group plc

(the "Company", the "Group" or "Design Group")

Sale of Property

IG Design Group plc, one of the world's leading designers, innovators and manufacturers of gift packaging, greetings, stationery, creative play products and giftware, is pleased to announce the completion on 29 March 2018 of the sale of one of its sites in Wales for £2.5 million.

The site represented excess warehousing capacity for the UK business and following the sale the Group will consolidate operations across its other facilities driving further improvements in operating efficiency.

The site was under a five year option granted by the Group to a power company in 2013 and on 15 February 2018 the power company exercised the option.  As a result of the sale, the Group expects to report an exceptional gain in the financial year to 31 March 2018 of between £1.1 - £1.3 million.

The Company will provide its year end trading update week commencing 16^th April 2018.

- Ends -

For further information, please contact:

IG Design Group plc                                       Tel: [phone]

Paul Fineman, Chief Executive

Giles Willits, Chief Financial Officer

Cenkos Securities plc                                     Tel: [phone]

Bobbie Hilliam

Alma PR                                                            Tel: [phone]         

Rebecca Sanders-Hewett                                  [e-mail]

Susie Hudson

 

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