4th Apr 2008 07:01
Park Group PLC04 April 2008 Strictly embargoed until 7am, 4 April 2008 PARK GROUP PLC ("Park" or the "Company") Pre-close Trading Statement Park (AIM: PKG.L) today announces a trading update for its financial year ended31 March 2008, having successfully completed its first Christmas seasonoperating under the new trust arrangements, which are designed to improvecustomer protection. Preliminary results will be announced on 17 June 2008. The Board is pleased to report that trading was broadly in line with itsexpectations. Whilst profit before tax is expected to be in line with marketexpectations, the conditional disposal of surplus land in Birkenhead, asannounced on 26 January 2006, which was expected to complete during thefinancial year ended 31 March 2008 has been delayed pending finalisation ofplanning agreements. As a result, the profit on this disposal will not now arisein the year. It is very encouraging to report that the expected recovery in customerconfidence has materialised and that orders for Christmas 2008 are 17% above thevalue achieved at the same date last year. In total the Company has recruitedaround 38,000 new agents and customer numbers are increasing. This is due inpart to a successful recent advertising campaign. We are also pleased that recruitment via the web continues to increase,validating our on-going investment in on-line services. This investment hassignificantly improved customer service and helped to reduce operating costs.Moreover, 29% of total order value has been placed directly by agents using theCompany's online systems. Overall, the outlook for the business remains positive and the Board expects torecommend an unchanged dividend for the full year. - ends - For further information please contact: Peter Johnson/Chris Alex Borrelli John West/Jeremy Carey/PaulHoughton Young Park Group plc Shore Capital Tavistock CommunicationsTel: 0151 653 1700 Tel: 020 7408 4090 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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