Card Factory shares up 10%

Shares in retailer Card Factory rose 9.99% by the end of trade yesterday after a “robust” set of results, despite criticisms of lower full year core earnings.

Critics pointed out that EBITDA had fallen 5% to £89.4m. Pessimistic predictions were made regarding the “extreme weather” in the UK and stiff competition online.

Revenues for the retailer increased in the year to 31 January 2019, from £422.1m to £436m. Pre-tax profits did dip slightly, reaching £66.6m, down from £72.6m in the same period the year before.

However investors clearly did not share these sentiments, as share prices for the Wakefield-based company rose to 17.7p.

Karen Hubbard, chief executive officer, commented: “We delivered a robust performance for the year, maintaining flat like-for-like sales despite a tough consumer environment.”

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