In Brief: Card Factory; Croda; Coalfield Resources

CARD Factory has continued to grow like-for-like sales and has opened 29 new stores, it said today.

In its interim management statement for the period from February 1 2014 to date, the budget card retailer, founded in Wakefield, said in the first four months of the current financial year, 29 net new stores have been opened, bringing the total estate to 742 stores. The group said it has a strong pipeline of additional new store opportunities and remains confident of opening 50 new stores in the current financial year.

Richard Hayes, Card Factory’s chief executive officer, said: “We have had a positive start to our current financial year, further developing our distinctive value proposition and continuing to deliver on our clear growth strategy.  The board remains confident of the group’s ability to further grow market share for the foreseeable future.”

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CHEMICALS business Croda International said this morning that Sean Christie, group finance director, will stand down following eight highly successful years with the company.

The group said that to allow time for his replacement to be found, Christie will remain in the role and as a member of the board until next April.

He joined Croda in April 2006 and has overseen a period of significant growth. During his tenure, the company has more than trebled turnover to over £1bn and completed a number of major disposals and transactions, the most significant of which was the acquisition of Uniqema in 2006.

Martin Flower, chairman, said: “Sean has played a pivotal role at Croda for the past eight years during a strong period of growth for the company. In particular, he helped to oversee the transformational acquisition and subsequent integration of Uniqema in 2006. He has also introduced new levels of financial and reporting rigour and driven operational excellence across the business. We are very grateful for his insight, wise counsel and hard work through such a critical period of development for Croda and wish Sean all the very best for the future.”

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COALFIELD Resources confirmed today that Theresa Casey has resigned as company secretary.

The company said it is pleased to welcome back Geoffrey Mason, who will take up the role with immediate effect.

Mason previously assisted Coalfield Resources with the successful establishment of the Harworth Estates business in the 2012 restructuring.