Focus on the cash flow
Results and updates covered here include those of some highly acquisitive smaller companies, including one where the debt load is substantial. With the financial statements featuring a plethora of adjustments, prospective investors should focus on the cash flow. (Free to read)
IG Design: much as anticipated Shares in IG Design Group (LON:IGR), the manufacturer of gift packaging, craft & creative play products, had already tumbled following a recent trading update, so the latest interim results to 30 September 2021 offered little that was new. First half revenue rose 11% to $483.9m with lower operating margins resulting in adjusted profit before tax 34% lower at $19.9m and adjusted earnings per share down 38% to 13.6 cents. With fewer adjusting items, reported pre-tax profit was thankfully closer to the adjusted number at $18.9m. As is usual for this business at the half year…