Park Group plc is £23m ahead of last year Back
The chairman of Birkenhead-based Park Group will tell shareholders today the online gift voucher and prepaid gift card company is £23m ahead of where it was last year.
At Park's annual meeting at Tranmere Rovers FC Peter Johnson will say cash balances, including monies held in trust are now at £184m. In the company's AGM statement Johnson says the Group's impressive performance which he reported on June 9 on the year to March has contined.
"This reflected a sustained improvement in trading conditions coupled with Park's success in capitalising on market opportunities. I am pleased to advise that this strong trading performance has continued and we expect another good performance across the Group in the current year."
He says that the corporate business, supplying an extensive range of gift cards and vouchers to some 7,500 customers, principally in the incentive and reward sector, is maintaining last year's progress.
The consumer division, which enables customers to plan for Christmas in a controlled and structured way, is also performing well running some 8% higher than last year at this stage.
Meanwhile, the online business, highstreetvouchers.com, is one of the most important and fastest developing components of Park, Johnson says.
"This business is currently achieving sales some 15 per cent ahead of the same period last year. This dynamic performance demonstrates customers' preference for the flexibility offered by self-service web sites," he says.
"Our order books are strong with good levels of customer demand and consumer confidence remains high. We look forward with optimism and excitement as Park enters its busiest period of the year."