Park Group plc forecasts £16m decline in its consumer credit business

Merseyside firm Park Group plc has forecast mixed results for the 12 months to March 31, with a heavy sales decline in the consumer credit sector offset by growth in its corporate business.

The Birkenhead-based voucher and gift card company has reported that while sales in its consumer credit business saw a year-on-year increase of 7% during early Christmas 2015, full-year sales in the sector are projected to fall short of the £4m mark, representing a drop of around £16m in comparison to the previous year.

Similarly, while Park Group’s billings in its corporate business increased by £14m when considered on its own, overall billings are expected to be £2m less than the previous 12-month period.

This is due to the decline in sales in the consumer credit sector, which now accounts for less than 1% of the group’s total billings.

In a report released today (March 5) the company remains positive, confirming that its financial position is “solid” and cash balances stand “well ahead” of last year.