Park Group Plc

—   Operating profit increased by 7.3 per cent
       to GBP10.4m (2015 – GBP9.7m)
 —   Profit before tax increased 8.5 per cent to
       GBP11.9m (2015 – GBP10.9m)
 —   Billings increased 3.3 per cent to GBP385.0m
       (2015 – GBP372.9m)
 —   Earnings per share increased 13.3 per cent
       to 5.28p
 —   Proposed raising of final dividend by 18.8
       per cent to 1.90p per share (2015 – 1.60p),
       making a total dividend for the year of 2.75p
       per share (2015 – 2.40p per share)
 —   Total cash balances peaked at GBP206m (2015
       – GBP189m). Year end cash balance was GBP28.8m
       (2015 – GBP23.2m) with a further GBP75.2m (2015
       – GBP65.7m) of monies held in trust
 

 Operational highlights

 —   Maintained the growth of the strong first half,
       delivering another impressive trading performance
 —   Corporate business made sound progress, increasing
       billings by approximately GBP14m to GBP170m,
       excluding sales to the consumer credit sector
 —   Consumer business delivered another year of
       growth, with billings increasing 7.5 per cent
       to GBP212m; the order book for Christmas 2016
       is ahead of last year
 —   Ongoing investment and development in e-commerce
       – the majority of orders are now received via
       a smartphone or tablet
 —   Relationship with MasterCard, initiated last
       year, has made excellent progress, as has our
       innovative 'Combi' offering to the consumer
       market
 —   Everyday Benefits, our employee voluntary benefit
       product, achieved another strong performance,
       with billings up more than 36 per cent compared
       with the previous year
 —   Love2shop Business Services and Love2shop Holidays
       divisions both won industry awards, recognising
       excellence and creativity
 

 Laura Carstensen, Chairman, commented:  “Early indications for the current year are encouraging. Park's financial position remains solid, with cash balances well ahead of the equivalent period last year.  We have a consistent and sustainable strategy executed by experienced, highly capable management and a sound business that meets our customers' needs.
  “We look forward with confidence and remain focussed on delivering yet another year of progress.”
  Chris Houghton, Chief Executive Officer, added: “We continue to see the benefits of investment in our systems and products, while our customers on both the consumer and corporate sides of our business show a sustained and growing enthusiasm for our broad range of products and programmes.
  “Park has evolved significantly since its beginnings.  We are now utilising all available technologies in our business, enabling us to make rapid progress in our specialist markets.  We have developed the capability to anticipate and dynamically respond to a rapidly changing market place.  This will drive future growth as we continue to move forward.”