Christmas savings and voucher specialist Park Group said sales grew 5% in its full year to March 31.

Pre-tax profits fell to £5.3m from £6.2m the previous year whilst operating profits grew 38% to £4.8m.

Park Group chairman Peter Johnson said: “It is pleasing to report an increase in operating profit in both of our business divisions, especially given the generally difficult economic environment in which we have been operating.” 

In addition to its hamper business and corporate voucher business it has also introduced a prepaid card that customers can redeem at high street stores.

Johnson added: “Whilst our sales are predominantly earned in the second half,   the current year has started well with both core businesses ahead of the comparable period 12 months earlier.  Corporate vouchers are benefiting from a rise in new business and Christmas savings is seeing a steady improvement in customer numbers and order levels.  In due course both divisions will be boosted by the introduction of flexecash - our new FSA authorised prepaid card.”