Stewart Gilliland

Good morning, and welcome to IG Design Group's Full Year 2026 Results Presentation. I'm Stewart Gilliland, Interim Exec Chair, and I'm joined today by our group CFO, Rohan Cummings. Today's agenda will cover a review of the year's performance, followed by a more detailed look at the financials, will then provide a strategic update before concluding with an outlook, including reaffirming our guidance and our capital allocation policy.

Moving on to the full year summary for 2026. It's been a transformational year for the group, following the sale of DG Americas to Hilco on the 30th of May 2025. We're now more focused and less complex business with the quality of our earnings materially improved. All of the results we are presenting today relate to the continuing group on our -- in sterling. We have delivered strong results against the backdrop of still challenging market conditions. Revenue, profit and cash were ahead of expectations, demonstrating the resilience of a more focused group. We delivered revenue of GBP 217.9 million and operating margins of 4.4%. We're pleased with our strong net cash position of GBP 54.6 million, where the continuing Group generated GBP 16.2 million of cash in the year. This provides a robust platform for future growth, and Rohan will take you through the financials shortly.

Strategically, we've made significant progress. The disposal of DG Americas marks an important milestone in the simplifying of the group. We've continued to build momentum across our strategic growth pillars, including the bolt-on acquisition of Glenart. Looking ahead, the outlook remains positive. We've strengthened our leadership with the appointment of a new CEO, Gerald Kuehr, who joined as CEO Designate on the 1st