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Park Group expects strong full-year results

Park Group, the gift voucher and prepaid gift card supplier, said it expects to report a strong financial performance in its full year figures for the year ended 31 March.

CITY & CORPORATE

Park Group expects strong full-year results

The group said investment in its Flexecash prepaid card system and the development of its web based business had created substantial opportunities, the results of which were now being reflected in sales volumes.

Since launching the prepaid card in June 2010, the group said it had issued more than £75 million of value and now has 47 large retailers which accept or have agreed to accept the cards. These include Argos, Boots, Debenhams, Iceland, Matalan and Marks & Spencer.

During the year Park also launched mobile applications to improve customer service and will shortly be introducing mobile and email delivery of its prepaid products. The group said this would open new markets which until now it had found difficult to penetrate.

Park also said its Christmas savings business had performed well with volumes increasing over 5% on the previous year. The group said indications for Christmas 2012 were “encouraging” with an increase in orders of around 6%.

Love2reward, the corporate division, has increased billings volume by 15%, compared with the same period last year. The Euro voucher had also enabled Park to market to corporate businesses in Ireland.

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