Flash note: Trading momentum maintained
Park has issued a positive statement on trading ahead of its AGM. Order books are strong across both the Consumer and Corporate divisions and cash balances are running well ahead of last year, which means that interest earnings are growing again despite continued low interest rates. We are not changing our estimates at this stage, but note how underlying operational gearing positively affected the last fiscal year. The seasonally less significant Interim results will be published on 1 December.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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