Park Group plc
("Park" or "the Company")
Park, the UK's leading multi-retailer, multi-channel gift voucher and prepaid gift card provider, announces an update on trading for its financial year ended 31 March 2017, ahead of the announcement of its Preliminary Results on 13 June 2017.
The Board expects to report results for the year to 31 March 2017 in line with market expectations.
The Company's Interim Statement, released on 29 November 2016, reported that the financial performance in the first six months of the year delivered further good levels of growth in both our Consumer and Corporate businesses. The first half ended well, with order books ahead of the same period last year, as the Company entered the very busy trading period running up to Christmas.
Trading in the second half, including the important Christmas period, maintained the momentum of the first half and delivered further good progress, as our commitment to product and service enhancement continues to drive success on both sides of the business. Completed orders for the Consumer business were over 4 per cent ahead of last year. The Corporate business saw increased traction in part due to our 'Evolve' digital corporate rewards and incentivisation platform which now has attracted 162 corporate customers following its launch in June last year. This platform allows customer organisations to cost effectively create and control their own web or smart device based reward programmes.
Park's overall financial position remains extremely sound with cash balances ahead of last year.
Early indications for the coming year from our Consumer and Corporate businesses are positive, with order books again ahead of their position at the same time last year, giving us confidence in a strong year ahead.
For further information please contact:
Park Group plc
Arden Partners plc
Tel: 0151 653 1700
Tel: 020 7614 5920
Tel: 020 7920 3150