Corporate lift for Park Group

City A.M. Reporter
CHRISTMAS hampers and voucher specialists Park Group said it expects trading to be in line with market expectations for its year ending 31 March and Christmas 2011 orders are up five per cent year-on-year.

Liverpool-based Park Group will report full results on 14 June, but said it had performed well despite the freeze before Christmas which hit the consumer sector.

It said corporate voucher and prepaid card sales performed well in its last financial year as the number of clients increased year-on-year, in a tough trading environment.

Park’s corporate vouchers are used by many firms for staff incentive schemes, which were hit in the recession.

Meanwhile the group’s flexecash card, a pre-paid card launched last year and redeemable at 24 retailers including HMV, Argos and New Look, has over 300 corporate clients.

The retailer said: “While still a small part of the business, demand has been growing rapidly and its performance has exceeded the board’s expectations.”

Its online operation grew during the year with over £100m in sales taken via its website.

The Irish business, acquired in October 2010, has now been successfully integrated, Park said in a statement.

It added: “The Board expects to report a positive financial performance in line with market expectations for the year ended 31 March 2011.”