Festive orders at Christmas savings specialist Park Group are “close to the level of a year ago”, according to the group.
Speaking at its full-year results, where it revealed pre-tax profits jumped 24 per cent from £5m to £6.2m, Park Group managing director Chris Houghton said the retailer is “holding firm” in a tough climate.
The group has taken orders from 416,000 customers for Christmas so far, a 4 per cent drop on the same time last year, but a 3 per cent higher average value.
The robust performance comes after the implosion of rival Farepak in 2006, which left 150,000 savers a total of £40m out of pocket.
In the year to March 31, total sales at the group, which was founded as a Christmas hampers business, rose 11 per cent to £250.5m. Sales in the Christmas savings business rose 15 per cent to £165.5m. Sales of Park Group’s corporate vouchers, which form incentive and reward schemes used by retailers including Marks & Spencer and John Lewis, climbed 4 per cent to £85m. Online sales rocketed 161 per cent to £6m.