Billings top £426m at Park, Birkenhead gift card firm

Birkenhead-based prepaid gift card and corporate rewards firm Park Group said on Wednesday its billings increased 3.4% to £426.9 million in the year to March 31 but revenue slipped to £110.4 million from £111.1 million.

Profit before tax also fell slightly to £11.3 million from a restated £12.6 million last year.

Proposed final dividend is raised to 2.15p per share (2018 – 2.05p) making a total dividend for the year up 4.9% to 3.20p per share (2018 – 3.05p).  

Park Group CEO Ian O’Doherty said: “Park delivered another good performance last year, continuing to build upon our position as the UK’s leading multi-retailer redemption product provider to the corporate and consumer markets.   

“Our outlook for the current financial year is unchanged, as we anticipate continued good growth in our corporate business to be partially offset by a slower consumer Christmas savings market.  

“In summary, we are pleased with the considerable progress that we are making and we are confident that delivery of the strategic business plan will lay the foundations for strong and sustained growth in future years.”