Christmas budgeting pays off for Appreciate

Gifts and hampers business The Appreciate Group has recorded an increase in revenue over the Christmas period. 

In a trading statement Guy Parsons, executive chair of Appreciate Group said trading has been in line with expectations despite the challenging macroeconomic environment. “We have continued to work to accelerate the simplification of the business and to drive our most profitable billings, which is intended to enhance earnings in the medium term. We are also ensuring that we are earning a suitable risk adjusted return from the large cash sums held on deposit.”

Revenue for the year to date is expected to be £104.5m, compared to £100.7m at the end of 2021. 

A meeting on 20 January 2023 is expected to confirm the £83m acquisition of Appreciate by payments specialist PayPoint, subject to a court-sanctioned scheme of arrangement.

Appreciate brands include Park Christmas Savings, the largest family Christmas savings club and Love2shop which offers gift cards and gift vouchers available to spend at stores and attractions across the UK. 

Appreciate has not needed to draw down its £15m revolving credit facility and doesn’t expect to do so in the foreseeable future.