Park Group hails 'excellent' year
Park Group, the multi-redemption voucher and prepaid card business, saw its pre-tax profit rise by 16% to £10.9 million in the year to 31 March.
The company also increased its billings which rose by 11% to £372.9 million, with billings for the consumer business growing by 8.4% to £196.8 million.
Online billings advanced 28% to reach £21.5 million. During the year, Park Group's hightstreetvouchers.com site served 200,000 orders and received 3.5 million visitors.
Chris Houghton, Park Group chief executive, said: “Park delivered an excellent result for the year under review with strong profit and revenue growth across the organisation and continued investment in systems, backed by healthy cash flows and a balance sheet free of bank borrowing. Trading momentum is continuing in the current year, which has started strongly. We look forward with confidence and anticipate another period of sustained growth.”
The company said that 86% of new Christmas orders from first time customers were placed online during the year. It also revealed that that the order book for Christmas 2015 is well ahead of last year.
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