It has been announced today that in its first half of the financial year, greeting cards retailer Card Factory reported an increase in both sales and profits as it continues to open new stores in the UK.
Figures show that the Card Factory’s revenue rose 8% to £161.4 million and like-for-like sales increased 2.7% in the six months to July 31st, whilst EBITDA rose 7.7% to £32.5 million and underlying operating profit grew 6.5% to £27.8 million.
The company reported that it has made good progress in its growth strategy for all areas, such as, opening 36 net new stores, like-for-like sales in current stores, developing complementary online sales channels and delivering business efficiencies.
Chief executive of the Card Factory, Richard Hayes, said: “It is encouraging to report another strong set of interim results with growth in both revenue and profit.
“It is also pleasing to announce a special dividend, in keeping with our commitment to return surplus cash to shareholders.
“We continue to focus resolutely on maintaining our very strong competitive position and further improving and developing our value retail proposition.
“The business is well prepared for the important Christmas trading season, and we remain confident of the group's future prospects both in the near and longer-term."
