Card Factory revenues near £150m mark

CARD Factory, which recently made its debut on the London Stock Exchange valued at £766m, said it remains confident of the group’s future prospects as it announced a strong set of maiden interim results this morning.

For the six months ended July 31, 2014, the company, founded in Wakefield, saw revenues rise 8.9% to £149.4m while like-for-like sales were up more than 2.6%.

However, expenses relating to the float and refinancing saw the business report a statutory pre-tax loss of £7.9m.

Underlying operating profit was up 9.3% to £26.1m and underlying EBITDA rose by 10.1% to £30.2m. 

Chief executive Richard Hayes said: “Having completed our flotation on the London Stock Exchange earlier this year, it is pleasing to report a strong set of maiden interim results. We continue to deliver on each of our four pillars of growth – growing like-for-like sales; rolling out new stores; delivering business efficiencies; and increasing our online business.

“The continued growth and further improvement in our retail proposition is particularly satisfying given that this was achieved during a period in which we completed the IPO process. This reflects the strength of the whole Card Factory team and their support and commitment is greatly appreciated and valued by the board.”

 

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