Park Group continuing to see strong growth

PARK Group, the Birkenhead-based customer loyalty to Christmas hamper savings business is in bullish mood agead of its busiest quarter of the year.

At the AIM-firm’s annual meeting at Tranmere Rovers FC, chairman and founder Peter Johnson will highlight the continuing “excellent” progress the company is making.

New products such as the Flexecash reward and the online brand highstreetvouchers are seeing strong year-on-year growth.

Mr Johnson will say: “The current year has seen a continuation of last year’s good progress with savings orders for Christmas 2012 currently at circa 6% above the equivalent period last year.

“Corporate sales are also doing well, currently showing a 13% growth year-on-year while highstreetvouchers.com, our online business, has achieved an impressive 26% year-on-year increase in billings. “

The group said the figures represent a “sound achievement” against the backdrop of a weak economy and cautious consumer spending.

Mr Johnson said the launch of the Flexecash prepaid staff and customer reward card in 2010 has been “transformational” for the business and its development is being managed in a tightly controlled manner.

Value loaded on to Flexecash cards this year is currently 109% above the same time last year abd since launch more than £83m across approximately 1.7 million individual cards has been taken.

Since the year end Park has launched new ‘e-money products’ including  
‘flexebens’, an employee benefit scheme, and ‘flexecodes’, which allows users to make retail purchases online.

In conclusion Mr Johnson will say: “The next three months, running up to Christmas, will be the busiest period of the year and the order position is very encouraging.

“The board is confident that these positive indications should allow Park to deliver another year of growth, in-line with market expectations.”