Appreciate Group - Resilient H1 and well placed for recovery
H121 performance was resilient, ahead of management’s mid-range scenario for the effect of COVID-19, and the steady recovery in customer activity from the April low continued into the seasonally significant Q3 period. With management increasingly confident of the H2 recovery, backed by a solid free cash position, dividends were reinstated. Accelerated digitalisation of the business has mitigated the effects of the pandemic and positions Appreciate Group well for recovery.Park Group is a provider of prepaid gift cards, multi-retailer gift vouchers and digital rewards services to corporate and consumer markets. Co.'s brands include: Love2shop, a multi-retailer gift voucher and prepaid gift card brand; Park Christmas Savings, which helps families prepare and budget for Christmas in a controlled and careful manner; flexecash®, which issues e-money; Love2shop Business Services, which provides solutions from Co.'s own multi-retailer vouchers and prepaid cards to single store vouchers and cards, gift experiences, holidays and travel; and Evolve, which is a digital rewards platform that provides commercial organizations with a means to reward individuals.
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