IG Design Group’s post-close trading update for FY22 showed a strong 10% like-for-like group sales increase to $963m, with the International business up 15% and the Americas business up 7%. The group has guided to a fullyear adjusted operating margin of 0.5%, ahead of its previous breakeven guidance at this level in its nine-month trading update in January, and a small adjusted loss before tax. The reversal of a deferred tax asset will, however, result in adjusted post-tax loss and EPS being significantly below market expectations. Work has started on restoring the US division’s financial performance, with more detail to follow in the prelims (28 June).