We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Card Factory Plc | LSE:CARD | London | Ordinary Share | GB00BLY2F708 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 103.60 | 102.20 | 103.60 | 105.00 | 103.60 | 105.00 | 26,729 | 08:45:38 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Greeting Cards | 463.4M | 44.2M | 0.1289 | 8.04 | 355.16M |
From May 2019 to May 2024
TIDMCARD
RNS Number : 3127M
Card Factory PLC
27 April 2018
27 April 2018
Card Factory plc
Annual Financial Report and Notice of AGM
Card Factory plc ("Card Factory" or the "Company") announces that it has published its Annual Report and Accounts for the year ended 31 January 2018 and Notice of the Company's 2018 Annual General Meeting.
The Annual General Meeting to which the notice relates is to be held at 11.00 a.m. on Thursday 31 May 2018 at the offices of Linklaters LLP, One Silk Street, London EC2Y 8HQ.
Copies of the documents listed below have today been posted to shareholders:
1. Annual Report and Accounts 2018; 2. Notice of 2018 Annual General Meeting; and 3. Form of Proxy for the 2018 Annual General Meeting.
A copy of each of these documents has also been submitted to the UK Listing Authority via the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.
These documents will also be accessible later today via the Company's investor relations website www.cardfactoryinvestors.com.
Card Factory's preliminary results announcement on 10 April 2018 (which is available via the Company's investor relations website referred to above) included, in addition to the preliminary financial results for the year ended 31 January 2018, information on important events that occurred during the year and their impact on those financial results. That information, together with the information set out in the Appendix below is provided in compliance with the requirements of DTR6.3.5(2)(b). This information is not a substitute for reading the full Annual Report and Accounts for the year ended 31 January 2018.
For further information:
Shiv Sibal, Company Secretary Tel: 01924 839150 and Group General Counsel Card Factory plcS
APPIX
Principal Risks and Uncertainties
The principal risks and uncertainties facing the Card Factory group (the "Group") are set out below, together with details of how these are currently mitigated. For further information on how the Group manages risk, see pages 24 to 27 of the Strategic Report and also page 45 of the Corporate Governance Report within the Annual Report and Accounts 2018 ("Annual Report").
Hot Features
Premium
Risk Description Mitigation
Type
---------------- --------------------------------- -----------------------------------------------------------------
Our market The Group continues
to generate almost * Regular customer and market research.
all of its revenue
Since from the sale of
2017: greeting cards, * New experienced Commercial and Studio Directors will
No change dressings and gifts. support product strategy and innovation and
collaboration between design and buying teams.
Although the Group
has a proven track
record of understanding * Dedicated card buyer recruited.
our customers, trends
and tastes can change
quickly and we may * Significant additional investment in marketing team
not be able to effectively to drive awareness and customer focus.
predict and respond
to this which could
affect our sales, * Investment in online teams supporting development of
performance and multiple sales channels to respond to changing
reputation. consumer demands.
* Strong focus on product innovation with designs
regularly refreshed and new ranges introduced.
* EPOS sales data from all stores driving design and
purchasing decisions.
* Weekly trading meetings driving better 'real-time'
decision-making.
* Vertically integrated model helps the Group position
itself to quickly respond to changes in its markets
with further investment evaluated continuously.
---------------- --------------------------------- -----------------------------------------------------------------
Competition Competition in our
markets has intensified * All key elements of competitor activity are closely
during the year monitored with a business programme now dedicated to
Since particularly during our strategic approach to competition.
2017: key seasons with
Increased supermarkets and
national value retailers * In-house design and print operations help innovate,
at the forefront. differentiate and improve the quality and value of
Product choice and our offering.
quality, store location
and design, inventory,
price and customer * Regular evaluation of further investment in our
service remain key vertically integrated model which underpins our
to differentiating competitive position.
our offering. As
the quality, value
and range we offer * Significant additional investment in marketing team
grows, our competitor to drive awareness and customer focus.
group widens. Many
of our significant
competitors enjoy * Rigorous store selection process and performance
strong brand presence reviews.
recognition, financial
resources and purchasing
economies of scale, * Continuous review of customer trends and behaviours
any of which could supported by more targeted externally facilitated
give them a competitive customer research.
advantage.
---------------- --------------------------------- -----------------------------------------------------------------
Our brands 'Card Factory' and
'Getting Personal' * Rigorous protection of our intellectual property, and
are the Group's guidance and education for our teams.
Since key brand assets.
2017: Protecting and enhancing
No change them underpins our * Investment in developing our retail colleagues
reputation. If we through our new
are unable to protect
them or if we fail
to sustain our appeal ACardemy programme.
to our customers, * Comprehensive review of our store estate and
our reputation and opportunities for improvement.
our sales and future
prospects could
be jeopardised. * Annual market research confirming current perception
of our brand and development opportunities.
* All key elements of competitor activity are closely
monitored with a business programme now in place
dedicated to our strategic approach to competition.
* In-house design and print operations help innovate,
differentiate and improve the quality and value of
our offering.
* Further development and investment in processes that
ensure product quality, safety and ethical
production.
---------------- --------------------------------- -----------------------------------------------------------------
Our Strategy The Group's four
pillar strategy * Implementation of, and performance against, strategy
has been developed monitored both at Board and senior management team
Since with the aim of level.
2017: achieving long-term
No change value for our shareholders.
If the strategy * Annual Board and senior management team strategy
and vision for the review days.
business are not
developed, communicated
or delivered, performance * Business objectives, and how we prioritise and
could suffer. Strategy communicate these are set in the context of our four
implementation requires pillar strategy and aligned with our Mission, Vision
careful prioritisation and Values.
of resource to ensure
a focus on those
initiatives that * Further significant investment in senior management
drive long-term team to ensure we have capacity and capability to
value. deliver and develop our strategy.
* Competitor analysis, customer and market research and
enhanced EPOS sales data used to drive development of
our offer.
---------------- --------------------------------- -----------------------------------------------------------------
Our supply Third-parties, including
chain many in the Far * Strong relationships with key suppliers.
East, supply nearly
all of our complementary
Since non-card products, * Continuously diversifying supplier base providing
2017: handcrafted greeting greater flexibility and reducing reliance on
No change cards and certain individual suppliers.
raw materials. If
they fail to satisfy
orders it may affect * Periodic inspections and third-party facilitated
the business or technical and ethical audits of factories operated by
result in us having major suppliers.
to find alternative
suppliers, who may
not be able to fulfil * Sedex membership ('the Supplier Ethics Data
our needs. We are Exchange').
also exposed to
changes in supplier
dynamics and increases * Further development and investment in processes that
in raw material ensure product quality, safety and ethical
prices. Our supplier production.
profile means we
are subject to the
risks of manufacturing
and importing of
goods from overseas
including freight
costs and duty,
as well as supply
interruption and
reputational risk
arising from supplier
labour practices.
---------------- --------------------------------- -----------------------------------------------------------------
Culture As the Group has
and leadership grown and transitioned * The Group's Mission, Vision and Values have been
from private equity defined by and communicated to our colleagues.
ownership to being
Since publically owned,
2017: it has experienced * The Group's organisational structure has been
New significant leadership reviewed and restructured.
change across its
senior management
team and retaining * The Group's leadership principles are being defined
and developing the and will be cascaded throughout the business.
culture and people
which have been
the foundation of * Both talent and management development programmes are
its success to date now in place.
is critical to the
Group's future growth.
---------------- --------------------------------- -----------------------------------------------------------------
Key personnel The Group's strategy
and long--term success * Kris Lee succeeded Darren Bryant as CFO and has been
depend on our ability through an extensive tailored induction.
Since to: implement succession
2017: plans for the senior
Decreased management team; * Talent development programme instigated to support
develop our colleagues; development of future leaders overseen by Group HR
and invest in our Director.
teams to ensure
we have the capacity
and capability to * Further development for senior management team.
grow.
* Leadership principles being defined and will be
cascaded.
* Senior management team bolstered by recruitment of
Commercial Director, Supply Chain Director, Design
Studio Director, Multi-Channel and Customer Director
and IT Director.
* The Group's remuneration policy (set out in the
Directors' Remuneration Report on pages 51 to 66 of
the Annual Report) is designed to ensure management
incentives reflect the business, are aligned with its
strategic objectives and support the long-term
success of the Group for the benefit of all
stakeholders.
---------------- --------------------------------- -----------------------------------------------------------------
Managing In the period since
change IPO, the Group has * Organisational design reviewed and restructured by
experienced significant CEO.
change in its management
Since team and in some
2017: of the systems and * Alignment of key business programmes with strategic
Decreased processes that will objectives within our Four Pillars.
support its future
growth and improve
efficiency. The * Board receives regular updates on key business
speed and management programmes to support challenge at the start of and
of these changes during these programmes.
introduces a risk
of management overload
and 'business as * Additional Non-Executive Director recruited with
usual' activities significant experience of business change and
could be compromised. transformation.
* Senior management team bolstered by recruitment of
Commercial Director, Supply Chain Director, Design
Studio Director, Multi-Channel and Customer Director
and IT Director.
* Talent development programme instigated to support
development of future leaders overseen by Group HR
Director.
---------------- --------------------------------- -----------------------------------------------------------------
Finance Our financing arrangements
and Treasury and the fact that * Adequacy of current financing and cash generation and
we source a significant their ability to support delivery of Group strategy
proportion of our are regularly monitored by the CFO.
Since products from the
2017: Far East mean that
No change a lack of appropriate * Treasury management processes and policy in place to
levels of covenant govern cash management and manage exposure to foreign
headroom and/or exchange and interest rate fluctuations including
cash resources in those resulting from the Brexit decision.
the Group, or significant
variations in interest
or exchange rates, * Treasury strategy reviewed and approved annually by
could have an impact the Board with periodic consultation between the CFO
on our operations and the Audit and Risk Committee Chairman.
and performance.
The CFO's Review
on page 21 sets * Foreign exchange and interest rate hedging contracts
out in further detail pre-approved directly by the CFO and communicated to
the risk to the the Board monthly.
Group of exchange
rate fluctuations.
* CFO undertaking comprehensive review of cost base as
part of our Business Efficiencies strategic pillar.
* Further details of the Group's financial position are
described in the CFO's Review on pages 20 to 23 and
the Group's viability statement is in the Directors'
Report on pages 70 and 71 of the Annual Report.
---------------- --------------------------------- -----------------------------------------------------------------
Business Significant disruption
Continuity to any part of our * The Group's crisis management arrangements continue
vertically integrated to be developed with guidance from the Audit and Risk
business model, Committee.
Since in particular to
2017: our printing facility,
No change Printcraft, our * Multiple scenario crisis management exercise held
distribution centre during the year.
or our design studio,
could severely affect
our ability to supply * Report and recommendations provided to the Audit and
our stores and could Risk Committee.
force us to use
third-parties which
could be expensive * Significant additional infrastructure investment in
and on onerous terms. Printcraft mitigating power surge and fire risk.
* Stock held across multiple locations to mitigate the
risk of a catastrophic event at any one of our
storage facilities.
* Group IT systems are subject to specific disaster
recovery arrangements.
* The Group also maintains appropriate business
interruption insurance cover.
---------------- --------------------------------- -----------------------------------------------------------------
Compliance The number and complexity
of legal and regulatory * Group's General Counsel and Company Secretary
compliance requirements oversees compliance with the support of external
Since impacting the business advisers. Senior management team members liaise with
2017: continues to grow him to ensure issues are identified and managed.
No change including: Modern
Slavery Act, GDPR,
Gender Pay Gap Reporting, * Key legislation trackers are in place with the Board
Payment Practices receiving regular updates.
and National Living
and Minimum Wage.
Compliance is time * Additional investment in the Group's legal team.
intensive and costly
and failure to comply
could lead to claims, * Cross Group team supporting the Group's preparation
penalties, damages, for GDPR.
fines or reputational
damage which, in
some cases, are * Senior management team members manage compliance of
very material and the Group's key operational teams with escalation and
could significantly disciplinary action where needed.
impact the financial
performance of the
business. * Policies and procedures governing behaviours in all
key areas, some addressing mandatory requirements and
others adopted voluntarily.
---------------- --------------------------------- -----------------------------------------------------------------
Information Reliable, efficient
Technology and resilient IT * EPOS and contactless payment now in place across all
systems across the of our stores.
Group, and particularly
Since those supporting
2017: our retail operations * New Group IT Director developing Group IT strategy.
No change and our vertically
integrated model
are critical to * Formal IT governance process adopted managed by IT
our success. steering group that has jurisdiction over all
material IT projects.
Failure to adequately
develop and maintain
these or any prolonged * Significant investment in IT infrastructure enhancing
system performance cyber security measures following a review and
problems or cyber-attack recommendations from Deloitte LLP.
could seriously
affect our ability
to implement the * Key IT risks are documented and agreed service levels
Group's strategy for recovery of key business systems are in place.
and to carry on
the business and
could render us
liable to significant
fines and reputational
damage.
---------------- --------------------------------- -----------------------------------------------------------------
Online The Group's transactional
websites, www.cardfactory.co.uk * Multi-Channel and Customer Director recruited to
and www.gettingpersonal.co.uk drive growth of www.cardfactory.co.uk
Since remain relatively
2017: new and developing
No change parts of the business * Significant investment in the Card Factory online
but are critically team.
one of our four
strategic pillars.
They operate in * SLAs in place and monitored for fulfilment of orders.
very competitive
markets with relatively
low barriers to * Development in www.cardfactory.co.uk product ranges,
entry. If they do choice and service.
not evolve to meet
customers' expectations
they may not deliver * Focus on leveraging Design Studio online team that
the anticipated will drive differentiation and product innovation.
revenue growth.
This may also affect
our reputation and * Improvement in operations with a focus on customer
customer perception service.
of our brands.
* Factoring in device shift by consumers in development
of our websites.
* Monitoring consumer online behaviours and sentiment.
---------------- --------------------------------- -----------------------------------------------------------------
Directors' Responsibility Statement
The Annual Report and Accounts 2018 contains a responsibility statement by Karen Hubbard, Chief Executive Officer, and Kristian Lee, Chief Financial Officer, by order of the Board in the following form:
"We confirm that to the best of our knowledge:
-- the financial statements, prepared in accordance with the applicable set of accounting standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the undertakings included in the consolidation taken as a whole; and
-- the Strategic Report includes a fair review of the development and performance of the business and the position of the issuer and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.
We consider the Annual Report and Accounts, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the Group's position and performance, business model and strategy."
Related Party Transactions
Details of the only material transactions with related parties during the financial year ended 31 January 2018 are set out in note 28 of the financial statements on page 103 of the Annual Report.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACSEAXLKAFNPEFF
(END) Dow Jones Newswires
April 27, 2018 02:00 ET (06:00 GMT)
1 Year Card Factory Chart |
1 Month Card Factory Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
