ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

PARK Appreciate Group Plc

50.75
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Appreciate Group Plc LSE:PARK London Ordinary Share GB0006710643 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 50.75 50.00 51.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Park Group PLC AGM Statement (3554N)

24/09/2019 7:00am

UK Regulatory


Appreciate (LSE:PARK)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Appreciate Charts.

TIDMPARK

RNS Number : 3554N

Park Group PLC

24 September 2019

24 September 2019

Park Group Plc

("Park" or "the Group" or "the Company")

AGM Statement & Trading Update

Park Group plc, the UK's leading multi-retailer redemption product provider to corporate and consumer markets, is today holding its Annual General Meeting at its new offices in Liverpool. The Chairman, Laura Carstensen, will make the following comments:

Trading Update

Group trading in the first five months of the current financial year has been in line with our expectations. We have seen continued growth in our Corporate business alongside a stable performance in the Christmas savings market.

As we set out in our results statement in June, we are incurring costs associated with implementing the strategic business plan, which will supress profitability this financial year. These costs relate to the transition to the new offices, as well as additional technology and marketing investment.

As shareholders will be aware Park, is a highly seasonal business with the majority of revenue reported in the second half of the year (commencing 1 October), leading to reported losses in the first half of the year, as in prior years.

Implementation of the strategic business plan

We are pleased to confirm that we relocated last week to our new fit-for-purpose offices in Chapel Street, Liverpool, where our AGM is being held today. We believe this office move will ensure we operate an integrated working culture as well as help us retain and attract talented staff.

We are making good progress on rationalising our brand architecture, which will make our products and offering easier for consumers, corporate clients and investors to understand. As part of this we have proposed changing the Company's name to Appreciate Group plc, which we believe better reflects our ambitions for the Group, for approval at today's AGM.

We continue to invest in our technology to enhance our capabilities, capacity, functionality and performance; we are busy implementing a new Enterprise Resource Planning (ERP) system, Microsoft Dynamics 365, which we selected in the Spring.

Work on our new digitally optimised product, targeting currently untapped areas of the gift voucher market, is well underway and we are encouraged by progress thus far. A further update on the product as well as a launch date is expected in the second half of the year.

Outlook

The transformation the business is undergoing will create a more robust and scalable model, putting us in a strong position for future growth. Overall, we continue to make significant strides in positioning the Group to take full advantage of the opportunities available in our market.

END

For further information please contact:

 
 Park Group plc   Liberum               MHP Communications 
                   (NOMAD and broker) 
  Ian O'Doherty    Richard Crawley       Reg Hoare 
   Tim Clancy       Jamie Richards        Katie Hunt 
                                          Patrick Hanrahan 
                                          Charles Hirst 
  Tel: 0151 653    Tel: 020 3100         Tel: 020 3128 
   1700             2000                  8193 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

AGMDMGZLKFKGLZM

(END) Dow Jones Newswires

September 24, 2019 02:00 ET (06:00 GMT)

1 Year Appreciate Chart

1 Year Appreciate Chart

1 Month Appreciate Chart

1 Month Appreciate Chart

Your Recent History

Delayed Upgrade Clock