(Alliance News) - Gift card and voucher firm Park Group PLC reported a slight drop in annual profit and revenue on Wednesday, though it has still raised its annual return.
For the 12 months to March, Park Group's revenue fell 0.6% year-on-year to GBP110.4 million, though billings did rise 3.4% to GBP426.9 million.
Pretax profit was GBP11.3 million, 10% lower than the year before, and the adjusted figure declined 0.8% to GBP12.5 million.
Park Group, "reflecting the board's confidence", has returned a 2.15 pence final dividend, taking the year's total to 3.20p, from 3.05p the year prior.
"Park delivered another good performance last year, continuing to build upon our position as the UK's leading multi-retailer redemption product provider to the corporate and consumer markets," said Chief Executive Ian O'Doherty.
Corporate billings increased 8.1% year-on-year to GBP194.8 million, despite the discontinuation of a low margin product, with Corporate revenue increasing 3.4% to GBP51.5 million. Profitability was boosted in the segment by a focus on higher margin products.
In Consumer, billings dipped 0.2% to GBP232.1 million, with Park Group's Consumer revenue falling 3.9% to GBP58.9 million, leading to a slight decline in profit.
"Our outlook for the current financial year is unchanged, as we anticipate continued good growth in our Corporate business to be partially offset by a slower Consumer Christmas savings market," added O'Doherty.
"In summary, we are pleased with the considerable progress we are making and we are confident delivery of the strategic business plan will lay the foundations for strong and sustained growth in future years."
Shares were down 0.6% on Wednesday morning in London at 68.10p each.
