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Trading Statement

5th Apr 2011 07:00

RNS Number : 2844E
Park Group PLC
05 April 2011
 

 

 

NEWS RELEASE

For release: 5 April 2011

 

PARK GROUP PLC

("Park" or the "Company")

 

Trading Update

 

Park (AIM: PKG.L), the UK's leading gift voucher and prepaid gift card provider, today announces a trading update for its financial year ended 31 March 2011. Preliminary results will be announced on 14 June 2011.

 

All parts of the Company have performed well and successfully overcame the extreme adverse weather conditions in December, our peak delivery period.

 

Corporate voucher and prepaid card sales have remained strong and once again the number of clients has increased year on year.

 

An important development has been the successful launch of Park's innovative flexecash® card in May 2010. While still a small part of the business demand has been growing rapidly and its performance has exceeded the Board's expectations. Cards have already been sold to approximately three hundred corporate clients, most of this business being incremental. The number of retailers accepting the card, currently 24, is expected to increase significantly in the run up to Christmas 2011.

 

Christmas Savings orders for 2011 are ahead by five per cent compared to the same time last year. A continuing trend is the increase in volume and value of customer orders placed online, which this year was over £100 million.

 

Our Irish business, acquired in October 2010, has now been successfully integrated. The business provides Park with an excellent platform from which to broaden its savings range for Christmas 2011 by launching its market leading vouchers into the Republic of Ireland.

 

The Board expects to report a positive financial performance in line with market expectations for the year ended 31 March 2011.

- ends -

 

For further information please contact:

 

Park Group plc

Arden Partners plc

Tavistock

Chris Houghton

Martin Stewart

Adrian Trimmings

Jamie Cameron

John West

Andrew Dunn

Tel: 0151 653 1700

Tel: 020 7614 5917

Tel: 020 7920 3150

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTUSVNRANASRAR

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