Park sees Xmas savings jump

Christmas savings group Park has reported a jump in savings as a growing number of people are putting money aside for the coming festive season.
The company, which encourages consumers to put away regular savings for Christmas and guarantees a minimum of one per cent interest, said Christmas savings increased by 37 per cent to £5.8m this year, while the average amount saved rose by 6.9 per cent to £401. In the six months to 30 September, revenues came in 49 per cent higher, at £50.9m. “Our business has always done well in austere times as people prepare for an expensive time of year,” managing director Chris Houghton said. “Credit is harder to get and is expensive and there’s more general prudence as people want to avoid getting into debt,” he added. He said the group was taking orders for next year.