26th Mar 2015 09:36
LONDON (Alliance News) - Park Group PLC Thursday said the encouraging trading levels it experienced in the first half of its nearly-ended financial year had continued through the second half, underpinned by a strong Christmas period, and it expects the growth to be maintained in calendar 2015.
The provider of gift voucher and pre-paid gift card programmes for retailers and corporate reward programmes, said its consumer business had a very successful Christmas, and sales for the year to end-March are up more than 8% on the previous year. Early orders for next Christmas are also well ahead of last Christmas, it added.
It said its corporate business achieved a "pleasing" second-half performance, with "excellent growth" in sales to the incentive market and of its new employee benefit products partially offset by a reduction in the volume of sales to the credit sector.
It said sales in its online business, which supplies gift vouchers and prepaid gift cards direct to customers, are up more than 25% compared with the previous year's level of GBP16 million.
Park also said its cash balances are well ahead of last year.
"Early indications from both our Consumer and Corporate businesses are encouraging and give us confidence that growth will be maintained in 2015," it said.
The company will report its results on June 9.
Park Group shares were down 0.8% at 61.00 pence Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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