IG Design (IGR)

[dealtn]

Not an ideal way to start the day.

https://www.investegate.co.uk/ig-design ... 00041995Q/

Trading Update - never good to see the words "significantly below current market expectations" when applied to earnings.

"However, as a result of the disruption and these cost increases, operating margins in the first half have been negatively impacted and it is expected that the challenges will continue into the second half of the current financial year and also into FY23, although it remains difficult, at this time, to estimate the impact. As such, the Group now expects FY22 full year operating margins to be 175-225 basis points lower year on year resulting in full year earnings being significantly below current market expectations, with the cost and supply chain headwinds continuing for an as yet unknown period in FY23"

Need to take a view on how long supply constraints last but the market reaction is -30% on the share price. Management previously has been good and trustworthy.