IG Design Group, once a leading UK gift‑packaging player, has survived a brutal $140mn hit after selling its DG Americas unit for one dollar. The sale left the company’s share price down 87% over five years, forcing a sharp restructuring that reshaped its balance sheet.

Half‑year results to September 30 exposed a 90% collapse in UK operating profit, dropping to $700,000 as US tariffs bite. Yet analysts expected full‑year revenue of $292mn and operating margin of 4.4%, comfortably beating forecasts. The turnaround hinges on cash flow, with $20mn generated despite a $35mn outflow for the exit.

A surplus warehouse sale in Aberdare added £3.1mn, netting £3mn profit and leaving IG Design with a £72mn cash pile, $16mn above market expectations. The firm now targets growth by acquiring South African cracker maker Glenart for £5.3mn, a unit that already produces £1mn cash profit on £4mn revenue.

Leadership change followed. Gerald Kuehr, former Unilever and P&G executive, became CEO designate on May 1 and will take full control in July. Less than a week into the role, he bought more than £860,000 of IG Design shares, signalling confidence in the turnaround plan and reinforcing investor trust.