Card Factory maintains strong revenue growth in 2015

Card Factory, headquartered in Wakefield, continues to enjoy a successful 2015 after revealing the financial results for the quarter ending on 30 April 2015.

When this year’s first quarter came to an end, the greeting card chain managed to reduce net debt to £91.9m, which is significantly lower than the total reported at 31 January 2015 of £103.6m.

Furthermore, Card Factory also saw an increase in overall revenue of 7.5%, due to the growth of like-for-like sales, the opening of 19 new stores and further growth of Getting Personal - the company’s online division.

At this present time, Card Factory operates out of 783 stores and is set to open 50 new stores by the end of the current financial year.

These results come only two months after Card factory reported a record year in terms of the growth of overall revenues and profits.

For the year ending January 31st 2015, the company, which specializes in greeting cards, dressing and gifts, saw an 8.1% rise in revenue to £353.3m, compared with last year’s total of £326.9m.

Pre-tax profit has also dramatically increased over the past year, with 2015’s total coming in at £42.7m, whereas the end figure for 2014 was £30.1m.

Richard Hayes, Card Factory’s Chief Executive Officer, said: “Following on from our record performance last year, we have had a positive start to our new financial year, with consistently strong revenue growth and cash generation and I remain confident that the Group will achieve the Board’s expectations for the full financial year.

“Our value retail proposition, built on our long-established vertically integrated model, remains highly differentiated, extremely difficult to replicate and, importantly, very attractive to the customer.

“We are also pleased to have further developed our online proposition through the launch of a new Card Factory website, which we are sure will be well received by our customers who will benefit from its enhanced functionality and access to a greater product range.”