IG Design Group plc Reports Revenue Results for the Year Ended 31 March 2020; Provide Revenue Guidance for Fiscal 2021 and 2022
Looking ahead, the Group has prepared detailed operational plans by region that aim to ensure that it emerges from the Coronavirus crisis strong and positioned to return to pursuing growth opportunities. In developing these plans each business unit has taken a view on a range of outcomes for fiscal 2021 based on the impact of Coronavirus in each region. The Company continues to work with customers to understand their expectations, importantly including confirming orders where possible for the crucial Christmas trading period. Assessing the range of outcomes above, the Directors believe that although revenues will remain ahead of fiscal 2020 as a result of the full year effect of the CSS acquisition, there will be a material reduction in expected Group revenue for fiscal 2021. The Group continues to forecast operating within its current banking facilities. Assuming a return to more normal sales volumes by the end of the fiscal 2021, the Board would expect significant year on year growth in both revenues and earnings in fiscal 2022.