Final Results
RNS Number : 7177T
ParkGroup PLC
11 June 2009
NEWS RELEASE Preliminary Results for the Year Ended 31 March 2009
PARK GROUP PLC
11 June 2009
Preliminary Results for the Year Ended 31 March 2009
Summary
| 2009 |
| Restated | ||
Revenue from continuing operations | £250.5m |
| £225.1m | ||
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Profit/(loss) before tax |
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- |
| Continuing operations | £6.2m |
| £5.0m |
- |
| Discontinued operations | - |
| £(0.7)m |
| £6.2m |
| £4.3m | ||
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Profit after tax for the period | £4.0m |
| £4.6m | ||
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Basic earnings per share (continuing operations) | 2.44p |
| 2.18p | ||
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Basic earnings per share (total) | 2.44p |
| 2.80p | ||
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Final dividend per share (proposed) | 0.88p |
| 0.80p | ||
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Total dividend per share | 1.32p |
| 1.20p | ||
Park Group plc is the UK’s leading multi-redemption voucher business focussed on the corporate gift voucher and Christmas savings markets. Sales are generated through agents, our direct sales force and the internet.
Key points: Financial
- Revenue on continuing operations increased 11 per cent to £250.5 million (2008: £225.1 million)
- Profit before taxation on continuing operations increased 24 per cent to £6.2 million (2008: £5.0 million)
- Finance income up 17 per cent to £3.1 million (2008: £2.7 million)
- Earnings per share on continuing operations advanced 12 per cent to 2.44 pence (2008: 2.18 pence)
- Total dividend raised 10 per cent to 1.32 pence per share (2008: 1.20 pence per share)
- Cash balances peaked at £124 million (2008: £96 million)
Key points: Operations
- Corporate Vouchers increased sales 4 per cent, major new customers secured
- Christmas Savings delivered good growth with customer numbers up over 8 per cent at 432,000 and average order value increased 5 per cent to £374
- Continued focus on product web sites to drive consumer and corporate sales
- Online sales continue to grow strongly increasing by 161 per cent to £6 million
Peter Johnson, Chairman, commented: “I am pleased to report that Park Group has delivered another sound set of results with growth in our two principal divisions, Christmas Savings and Corporate Vouchers. It is over forty years since Park was founded and it is pleasing and reassuring to note that over the years, irrespective of economic circumstances, our customer base has remained solid and loyal.”
“While no company is immune from the current recession, we are confident that Park’s proven and profitable business model, backed by a balance sheet free of bank borrowing and a well above average dividend yield, will continue to deliver value to shareholders and customers.”
Enquiries:
Peter Johnson/Chris Houghton | Fred Walsh/Matthew Armitt | John West/Paul Young |
Park Group plc | Arden Partners | Tavistock Communications |
Tel: 0151 653 1700 | Tel: 020 7408 4090 | Tel: 020 7920 3150 |
For preliminary news release in full, click here.