The UK’s leading multi-redemption voucher and prepaid gift card business

Results for the year ended 31 March 2012

12 June 2012

RNS Number : 1431F
 
Park Group PLC
 
Results for the Year Ended 31 March 2012

 

Summary

Park Group plc is the UK's leading multi-redemption voucher and prepaid card business focussed on the corporate and consumer markets.  Sales are generated through our direct sales force, agents and the internet. 

Financial highlights 

Profit before taxation and other operating income was ahead by 23 per cent at £8.6m (2011 - £7.0m) 

Billings increased 11 per cent to £329.0m (2011 - £297.6m) 

Revenue reduced slightly to £279.0m (2011 - £279.9m) 

Finance income of £1.7m (2011 - £1.4m) 

Proposed final dividend increased 23 per cent to 1.475p per share (2011 - 1.20p per share) making a total dividend for the year of 2.0p per share (2011 - 1.70p per share), an uplift of 18 per cent 

Total cash balances peaked at almost £152m (2011 - £140m).  Year end cash balance £9.2m (2011 - £6.8m) with a further £46.9m (2011 - £39.6m) of monies held in trust

 

Operational highlights 

Transformation of Park's operations continuing, driven by its prepaid card offering 

Corporate and consumer businesses generate further growth capitalising on internet technology and new product opportunities 

flexecash® prepaid card now has in excess of 600 corporate users with £77m of value to date loaded on approximately 1.7m individual cards 

Irish business purchased in 2010 steadily building Love2shop sales

 

Peter Johnson, Chairman, commented:  "Park has delivered another excellent set of results.  The quality and strength of our operations is reflected in these results and that performance has extended into the current year, which has started well. The transformation of Park has continued with the rapid growth in our prepaid card offering and the introduction of a series of exciting new products.

Park is well placed for another year of progress as its experienced management team builds on market leading positions, backed by strong customer relations and a strong cash position."

Enquiries:

Chris Houghton/Martin Stewart

Adrian Trimmings/Jamie Cameron

John West/Andrew Dunn

Park Group plc

Arden Partners plc

Tavistock Communications

Tel: 0151 653 1700

Tel: 020 7614 5917

Tel: 020 7920 3150

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