News

Prudent shoppers fuel progress at Park

23 September 2008 08:28:00

Christmas hampers and financial services firm Park Group said it continues to perform in line with expectations as consumers snap up its online vouchers.

Park said it is well placed for further growth as customers try to make savings amid the economic downturn.

Online voucher sales have more than doubled and one of its websites has already started to take orders for Christmas 2009, Park said in a company statement.

"Park remains resilient against the economic downturn given that the very nature of our business is to help customers save efficiently, a prudent trend in the current economic climate," it explained.

"Overall, the outlook for the business remains positive and the board is confident that the good progress made by the company to date will continue," it added.

The group added that it is nearly completed a new range of improved websites, and are expected to be in operation by Christmas this year.

It said cash balances on deposit currently stand at £101m, up £25m from the previous year.

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