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63.30 -2.20 (-3.36%)

Bid:

63.30

Ask:

63.50

Spread: 0.20 (0.316%)

Market Cap: £217.54m

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Card Factory lifts expectations after solid first half

Mon, 07th Aug 2023 10:38

(Sharecast News) - Greeting cards and gifts retailer Card Factory updated the market on its trading performance for the first half of its financial year on Monday, lifting its expectations despite some economic uncertainty.

The London-listed firm had indicated a promising start to the year in its preliminary results - a trend which it said had persisted.

It confirmed that trading for the first six months had significantly surpassed the expectations set by the board.

"The macro backdrop continues to be uncertain, and there is still much to be delivered over the remainder of the year," the Card Factory board said in its statement.

"Nevertheless, given the strength of the performance in the first half, together with our current outlook for the second half, the board now expects the full year outturn to be materially ahead of its previous expectations."

At 1020 BST, shares in Card Factory were up 14.5% at 101.68p.

Reporting by Josh White for Sharecast.com.