Multi-retailer welcomes new non-exec director

BIRKENHEAD-based multi-retailer Park Group has announced the appointment of John Gittins as a non-executive director.

This follows the retirement in June of Peter Johnson, who founded the business in 1966, and the installation of new chairman Laura Carstensen.

In the year to March 2016 Park delivered an 8.5% increase in profit before tax to £11.9m on billings which were 3.3% higher than the previous year at £385m.

Carstensen said: “I am pleased to advise that Park has maintained this momentum.

“Cash balances, including monies held in trust, are around £18m ahead of this time last year at £200m. This figure reflects the growth in our order books, principally for the highly seasonal consumer business.

“Park is well placed with strong order books and sound finances. The experience gained over many successful years, coupled with our sophisticated and proven delivery and monitoring systems, mean we can be confident of another positive outcome.
 
“Trading is in line with expectations as we enter the busiest period of the year.  We are therefore confident of another successful year ahead.”

Of Gittins appointment Carensen said: “John has more than 20 years’ experience as a chief financial officer at listed PLCs in a range of sectors and territories and over six years’ experience as a non-executive director.
 
“We look forward to working with him and are confident that we will benefit from his extensive experience and expertise.”