Park Group announces 5% rise in sales
Park Group, the Birkenhead based firm founded by Peter Johnson in 1967 has announced a 5% rise in group sales.
Originally started as a hamper company, its main focus is now on corporate vouchers and Christmas savings clubs
One of its big successes is the Love2shop high street gift voucher which is accepted by more than 85 retailers which control 20,000 stores in the UK. It has announced a 5% rise in sales to £263.2m for the year to March, although its operating profit jumped by 38%, its pre-tax profit fell by nearly £1m to £5.3m. That was due to a £2.1m fall in its finance income. Park Group traditionally holds a lot of cash, as an example, last year its cash balances reached £120m but low interest rates had a marked effect on its levels of profitability.
Managing director Chris Houghton commented: “There is nothing we can do about that. We are very pleased with our results given the economic environment and everything that’s going on.” Houghton said: “Technology is changing the way we work and the way custmers see us.”
In the last three years, the percentage of orders booked online has grown from 25% to 40% and online sales increased overall last year from just under £6m to £9m, with highstreetvouchers.com alone achieving sales of £5.3m. Park employs an average of 300 staff, peaking during its key period between August and November when it recruits a lot of temporary agents, of which 200 are permanent staff.
