Park Group (LON:PRKG) has given a trading update covering the financial year that ended on 31 March 2017 ahead of the preliminary results announcement scheduled for June 13 2017. Second-half trading has maintained the momentum that was reported with the interims, delivering further good progress and an expected full year result in line with market expectations. Early indications for the coming year are also positive, with order levels ahead of their position at the same time last year, and management expresses confidence for a strong year ahead.
Key H2 trading delivering expectations
Second-half trading, which includes the important Christmas trading period, is highly significant for Park, accounting for the majority of revenues and all of the profits. In Consumer, the completed order book (Christmas 2016) was ahead more than 4%, in line with the interim position. The Corporate business has successfully converted a strong interim order pipeline into increased H2 sales. The statement highlights progress in ‘Evolve’ digital corporate rewards and incentivisation platform. Management expects to meet consensus earnings expectations and we note that the consensus PBT estimate of £12.6m is a little ahead of our own, which we will review with the preliminary results in June.
To read the entire report Please click on the pdf File Below