Party product has been revealed to be a ‘growth category’ for IG Design Group, following the company’s fourth quarter figures and trading announcement, which were released earlier this month.
The company issued a Q4 trading statement in advance of its full year results (to March 31 2019), signalling an upturn in sales and growth in both revenue and profit across all sectors.
Revenue for the year to 31 March 2019 is expected to increase 37% on 2018 figures, driven by the recent acquisition of Impact Innovations as well as organic growth of 9.8%.
“Our strong performance in FY19 reflects our close relationships with the world’s leading retailers, our focus on innovation and efficiency and the increasing benefit of scale as we continue to grow,” said group ceo Paul Fineman, commenting on the year’s performance.
He continued: “It is particularly pleasing to have achieved significant organic growth while also benefiting from the acquisition of Impact Innovations and other investments…. We look forward to continuing to drive the business forward, with a focus on continued organic growth, supplemented by compelling mergers and acquisitions.”
When specifically asked about the party trade, Paul stated: “It is a growth category for us. While our presence in the party sector is less prominent in the UK than elsewhere in the world, we still see it as having growth potential.”
IG Design Group currently designs and manufactures fully coordinated partyware collections in line with current trends, including licensed lines.
