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Gift voucher firm Park getting into the Christmas spirit.

GIFT voucher rm Park said condence was returning to the Christmas savings market as the company feels the benet of the economic recovery.

e Business, which oSSers Christmas vouchers, hampers and other gifts in a 45-week instalment plan, reported that its order book for Christmas was strong, running 10% ahead of last year.

Pre-tax prots of PS9.4m for the year to the end of March were slightly down from PS9.5m a year ago as the demise of well known retail names over the past two years led to some consumers being reluctant to commit to long-term savings programmes.

Park Group's original Christmas hamper product was launched in 1967. Its former rival Farepak collapsed in 2006, leaving thousands of families out of pocket including many in Hudders-eld and delivering a blow to the reputation of the Christmas hamper sector.

Park chairman Peter Johnson said: "e current year has started well. e recovery in the UK economy, together with the associated improvement in consumer condence and the more stable environment in the retail sector, are having a positive eSSect on our business."

Park's corporate business, which sells gift cards and reward schemes, was hit by reduced demand from its important consumer credit clients.
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Publication:Huddersfield Daily Examiner (Huddersfield, England)
Date:Jun 11, 2014
Words:203
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