CARDFACTORY BRINGS BACK DIVIDEND AFTER 10% RISE IN REVENUES
Greetings card retailer Cardfactory has reinstated its dividend after seeing sales rise more than 10%.
The Wakefield-based firm saw its revenues rise to £510.9m in the year to January 31, while profit before tax increased 25% to £65.6m. The company said it was on track to meet its medium-term target of £650m revenues, with trading performing well since year end.
Cardfactory said store revenue had grown 8.7%, in part due to the opening of 26 more stores during the year. It was also seeing “positive traction online”, it said, while last April’s acquisition of SA Greetings in South Africa had contributed revenues of £10.4m.
Read more: Asda store numbers top 1,000
Cardfactory said it had seen record trading on the Saturday before Mother’s Day and trading since the start of the new financial year was in line with its expectations. It said it was on track to meet targets for £650m of sales, profit margins of 14% and 90 more stores by the end of the 2027 financial year.
Chief executive officer Darcy Willson-Rymer said: “I am delighted with the progress we have made through the year which would not have been achieved without the commitment and efforts of our colleagues.
“Now, three years into our ‘Opening our New Future Strategy’, cardfactory is financially and operationally a much stronger business. This means that we are able to both reinstate the dividend and invest in the future, while effectively navigating the ongoing economic environment. We have confidence in our strong value and quality customer proposition, and remain on track for both this financial year and for achieving our FY27 targets outlined at our Capital Markets Day in May last year.”
2024-04-30T07:30:47Z dg43tfdfdgfd