Preliminary results for the year ended 31 March 2011
RNS number: 3661I
Park Group PLC
14 June 2011
NEWS RELEASE Preliminary results for the year ended 31 March 2011
PARK GROUP PLC
("Park" or "Park Group")
14 June 2011
Preliminary Results for the Year Ended 31 March 2011
Summary
Park Group plc is one of the UK's leading multi-redemption voucher and prepaid gift card business focussed on both corporate and consumer markets. Sales are generated through our direct sales force, agents and the internet.
Financial highlights | |
• | Operating profit before other operating income increased 30 per cent to £5.6 million (2010: £4.3 million) |
• | Group profit before taxation and other operating income was ahead by 33 per cent at £7.0 million (2010: £5.3 million) |
• | Group profit before taxation including other operating income £12.5 million (2010: £5.3 million) |
• | Revenue rose 6 per cent to £279.9 million (2010: £263.2 million) |
• | Finance income of £1.4 million (2010: £1.0 million) |
• | Proposed final dividend increased 36 per cent to 1.20p per share (2010: 0.88p per share) making a total dividend for the year of 1.70p per share (2010: 1.32p per share), an uplift of 29 per cent |
• | Total cash balances peaked at £140 million (2010: £120 million) |
Operational highlights | |
• | Corporate business operating profit increased 23 per cent to £3.9 million (2010: £3.2 million) |
• | Consumer business operating profit before other operating income increased 59 per cent to £4.5 million (2010: £2.8 million) |
• | Online orders exceed £100 million |
• | flexecash® prepaid card launched during the year and performed strongly |
• | Integration of Irish acquisition completed |
Peter Johnson, Chairman, commented: "I am delighted to report that Park Group made excellent progress in the year ended 31 March 2011. Park's core businesses will continue to serve and develop our well established customer bases and progressively capitalise on the significant growth opportunities offered by flexecash®, our innovative prepaid card.
The outlook for Park is positive and the current year has started well. We look forward to delivering another sound performance for shareholders."
Enquiries:
| Peter Johnson/Chris Houghton | Adrian Trimmings/Jamie Cameron | John West/Andrew Dunn | ||
| Park Group plc | Arden partners plc | Tavistock Communications | ||
| Tel: 0151 653 1700 | Tel: 020 7614 5917 | Tel: 020 7920 3150 |
For preliminary news release in full, click here.