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Park Group posts first-half loss as sales slip

Tuesday, 4th December 2018
Gift voucher provider Park Group posted a first-half loss after cutting some low-margin business shrunk its revenue.

Pre-tax losses for the six months through September amounted to £1.5m, narrowing from losses of £1.9m on-year.

Revenue fell 10% to £27.4m, even as billings increased 3.3% to £109.0m.

Park Group declared an interim dividend of 1.05p per share, up 5% on-year.

'Park performed well in the first half, consistent with our expectations for the year as a whole and we are encouraged by our order book which is ahead of the same time last year overall,' chairman Laura Carstensen said.

'We are excited to announce the principal pillars of our new strategic business plan and the initial actions we are undertaking to deliver it.'

'We continue to be encouraged by the future opportunities for Park and are optimistic about how the plan will enhance these opportunities further and accelerate our future growth trajectory.'

At 1:56pm: (LON:PARK) share price was -1p at 77p

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