Interim results 2009

RNS number: 7342D
Park Group PLC
8 December 2009
NEWS RELEASE Interim Results

PARK GROUP PLC
('Park' 'the Company' or 'the Group')
INTERIM RESULTS FOR THE SIX MONTHS TO 30 SEPTEMBER 2009
8 December 2009

 Introduction

Park Group is the UK's leading multi-redemption voucher business focussed on the corporate gift voucher and Christmas savings markets. The company is a leader in its field with a strong sales and service culture utilising internet technology to broaden its product offering to its very large customer base.  Park's business is generally seasonal and the first half of the year is traditionally loss making with the bulk of annual revenues generated in the second half.

Financial highlights: 

• Revenue on continuing operations increased 6 per cent to £34.2 million (2008: £32.3 million)

• Operating loss (before finance income and taxation) reduced by 13 per cent to £4.7 million (2008: loss £5.3 million)

• Finance income received of £0.5 million (2008: £1.8 million)

• Interim dividend held at 0.44 pence (net) per share (2008: 0.44 pence)

• Total cash balances peaked at £120 million (2008: £124 million)

Operational highlights: 

• Corporate Voucher sales advance 5 per cent in period

• New business up over 30 per cent compared with the same period last year

• Christmas Savings 2009 orders 7 per cent below previous year. Orders for Christmas 2010 are well ahead of last year at this stage

• Online business continuing to grow strongly 

Peter Johnson, Chairman of Park Group plc, commented:
"The Group's performance again demonstrates the robustness of its long established, yet evolving, business model. Our corporate business continues to gain market share and early responses to our Christmas 2010 recruitment campaign are encouraging with orders well above those received at the same time last year."

Enquiries: 

For interim results announcement in full, click here.