Updates

IG design - Liberum sets 345p target price

June 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

A 93 page initiation note from Liberum with a 345p target price landed in my inbox after IG’s latest results. Yes, I read it. But of course we already knew the story as I had featured it on the January issue front page and have seen the shares climb 43% since. The story is also shaping up as expected; in January, I quoted chief executive Paul Bal’s plan to restore EBIT margins to at least 4.5% by 31 March ‘25 (the same as the FY20 pre-pandemic pro-forma, which included the acquisitions) based on revenues of US$825m and his plan to grow revenues to US$900m in FY27, by which time he said operating margins could be north of 6% to deliver EBIT of US$55m and PBT of c.US$50m. I said, “If he achieves that it would represent growth of c.40% co ...

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AdvancedAdvT - Buys robotic process automation business

Mpac

IG Design - Margins lift off as anticipated (September 2024)

IG Design Group - CEO sets out stall to grow 40% over previous peak profits (January 2024)

IG Design - Joins my watchlist as recovery play (December 2021)

IG Design (November 2020)

IG Design (February 2020)

IG Design (November 2019)

IG Design (July 2019)

IG Design (May 2019)

IG Design (January 2019)

IG Design - Very positive trading update (November 2018)

IG Design - Margins target of 10%+ (October 2018)

IG Design - Transformational US acquisition (September 2018)

IG Design - Forecasts upgraded by 8%/9%/13% for next three years (July 2018)

IG Design (May 2018)

IG Design (February 2018)

IG Design - Doubles share of Australian value card market (November 2017)

IG Design - Design led creative play boosts sales (August 2017)

IG Design - To exceed market forecasts (April 2017)

IG Design - 20% growth even without acquisitions (January 2017)

IG Design (October 2016)

IG Design Group - Buys Lang on a multiple of 4 to add scale in the (biggest) US market (August 2016)

International Greetings (May 2016)

International Greetings - "Everything but the cake" (January 2016)

International Greetings (May 2015)

International Greetings - Growth resumes (August 2014)

International Greetings (January 2012)

International Greetings (December 2011)

International Greetings (September 2011)

International Greetings (June 2011)

International Greetings - Earnings forecast to double this year (February 2011)

International Greetings - Prospective PE of 6 for year starting 1 April (January 2011)

International Greetings - Sales of every day cards rise (November 2010)

International Greetings - Refocuses on budget end of the greeting products market (August 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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