News

Park rediscovers festive cheer

17 June 2008 15:48:00

Sales have shown a "healthy" recovery at Christmas hamper firm Park Group following the disastrous effect of rival Farepak's collapse back in 2006.

The loss of confidence in the Christmas savings industry slammed business last year, but orders for Christmas 2008 have increased by 17% after the firm set up a new payment protection scheme.

Revenue from continuing operations for the year to 31 March 2008 fell 26% to £225.1m, as expected, almost halving profit before tax from continuing activities to £5.2m. Profit after tax rose 11% to £4.7m.

"I am pleased to report that Christmas savings orders for Christmas 2008 have shown a healthy recovery after the disappointing decline last year and that our corporate voucher business continues to grow," said chairman Peter Johnson.

"The outlook for the current year remains encouraging assisted by the growth in web enabled transactions."

The final dividend stays at 0.8p per share for a total payment of 1.2p.

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