Park Group PLC Trading Update (1224U)
05 Abril 2016 - 1:00AM
UK Regulatory
TIDMPKG
RNS Number : 1224U
Park Group PLC
05 April 2016
5 April 2016
Park Group plc
("Park", the "Company" or the "Group")
Trading Update
Park, the UK's leading multi-retailer, multi-channel gift
voucher and prepaid gift card provider, today announces an update
on trading for its financial year ended 31 March 2016, ahead of the
announcement of its Preliminary Results on 7 June 2016.
The good performance of the first half, reported in our Interim
Results statement in early December 2015, has extended into the
second half of the year. Trading in the months leading up to
Christmas, a key period for the Company, was positive, with
encouraging performances across all of our operations.
The Consumer business had another successful festive season and
sales for the year grew by 7 per cent compared with the previous
year. Early orders for Christmas 2016 are again ahead of the
equivalent period last year.
The Corporate business made sound progress during the year with
its extensive range of incentive and reward products, increasing
billings by approximately GBP14 million, excluding sales to the
consumer credit sector. As previously stated, sales in the consumer
credit sector have been reducing over recent years and this trend
continued in the second half of the financial year, with sales in
the sector for the full year expected to be less than GBP4 million,
a reduction of approximately GBP16 million on last year. However,
with increasing sales in other sectors, total billings for the
Corporate business in the year are expected to be approximately
GBP2 million below the level of the previous 12 month period.
Park's business within the consumer credit sector is now less than
one per cent of total Group billings.
Park's financial position remains solid, with cash balances well
ahead of last year and the Board expects to report results broadly
in line with market expectations. Early indications for 2016/17
from both our Consumer and Corporate businesses are encouraging and
give us confidence that it will be another year of progress.
Park Group plc Arden Partners Tavistock Communications
plc
Chris Houghton Steve Douglas Jeremy Carey
Martin Stewart Benjamin Cryer Andrew Dunn
Tel: 0151 653 Tel: 020 7614 Tel: 020 7920
1700 5920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
END
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