Updates

IG Design - Doubles share of Australian value card market

November 2017

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.

IG has been a lively market since it announced the acquisition of Australian greetings card business Biscay Greetings for AUD9m (£5.5m) – a multiple of 2.7x EBITDA.Biscay provides greetings cards and related products to a base of 2,000 customers through regional, wholesale and independent retail channels across Australia and New Zealand. The deal is being made through the Artwrap 50:50 JV and will almost double its share of the Australian value card market; and when the deal completes after Christmas, it will mean that on a proforma basis, Australia is now c.15% of group sales. I remain a buyer. ...

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