Member Article

Birkenhead-based Park Group reports pre-tax profit up 16%

Birkenhead-based Park Group, the voucher and prepaid card business, has announced its preliminary results for the year ending 31 March 2015.

The company focus on Christmas savings with families paying in a small amount each week and redeeming vouchers at the end of the year.

The stats

Pre-tax profit has grown 16% to £10.9m, it was £9.4m in 2014.

Revenue increased to £293.3m in 2014 it was £269.6m.

The analysis

Increases in profit and revenue were due to increases in both individual customers and corporate customers using the group’s services.

The group’s operations are divided into consumer, representing the Christmas savings offering and corporate which involves the sales of Love2shop vouchers and other retailer vouchers for the use of staff rewards and incentives.

The comment

Chief executive officer, Chris Houghton, 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 summary

A strong year for Park Group with pre-tax profits at £10.9m with the improving economy helping the group.

This was posted in Bdaily's Members' News section by Sophia Taha .