THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Park Group profits up 11%

Park Group, the Christmas savings and pre-paid card business, saw its profits rise by 11% to £9.5 million in the year to 31 March.

GENERAL MERCHANDISE

Park Group profits up 11%

Park Group, the Christmas savings and pre-paid card business, saw its profits rise by 11% to £9.5 million in the year to 31 March.

Billings increased 7% to £352 million while revenue was unchanged at £279 million. Finance income rose to £2 million from £1.7 million in the prior year.

The group attributed the rise in billings to its use of the internet, smartphone technology and social media to drive the business and to important new product launches throughout the year.

Park Group said it Facebook pages, which are used to promote specific products, post regular competitions and ask customers to recommend friends, now have over 30,000 followers and have already generated over £0.3 million in orders for Christmas 2013.

The success of the company’s Flexecash prepaid card, launched in 2010, also had a positive impact on the business and now has close to 900 corporate users with £160 million of value loaded across approximately 2.4 million individual cards.

The group’s corporate and consumer businesses both made progress in the year. Corporate billings rose by over 8% to £152.6 million while consumer billings increased by 7% to £199.4 million.

Chairman Peter Johnson said: "The transformation of Park over recent years has been very significant."Park continues to build on the leading market positions of its operations serving the consumer and corporate sectors, delivering high levels of service backed by product innovation and investment."The economic outlook remains flat but we look forward with confidence, focused on delivering another sound performance for all our stakeholders." 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019