Cards and gifts specialist IG Design group delivered record profits last year as it increased its focus on Easter and Valentine’s Day. Party product, including social stationery and partyware collections, accounted for 5.5% of the company’s total sales and is growing across the group.
The business grew its pre-tax profit by 51%, making £19.7 million in the year ending March 31 2018, an impressive jump from the £13 million it recorded in 2017. Sales rose from £311 million to £327.5 million, a rise of 5%.
The group has been increasing the sales made on events outside Christmas, with these seasonal events now accounting for almost half of the company’s total revenues.
The company noted that although the cost price of materials has increased, it has improved profitability and continues to foresee sales growth from UK brick and mortar retailers. It is also now in a better position to benefit from the market because it can operate at scale and is considering acquisition possibilities as it looks for opportunities to expand.
“With the effective combination of our product and brand portfolio, together with an array of value adding services, we remain very well placed to continue to grow organically, across all regions and channels,” said Paul Fineman, chief executive.
“This, together with carefully considered merger and acquisition opportunities supported by an ever strengthening balance sheet, provides a very bright future.”
