Update: Momentum continuing
Park Group has provided an update on second half year trading, for the year ending 31 March 2015. Preliminary results will be released on 9 June. The sales momentum that was apparent in H1, across all key business lines and products, has continued through H2. Management says that order indications for the financial year about to commence are also encouraging, giving confidence that growth will be maintained. We view the trading update positively. However, our estimates are already a little ahead of consensus, and we will wait for the full results to reassess these.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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