LONDON (Alliance News) - Orders in Park Group PLC's Christmas Savings business are currently running slightly behind last year, although its corporate business and e-commerce trading are still expanding and cash balances are ahead of last year, the company's chairman said Monday.
In a statement to be given at the company's annual general meeting, Peter Johnson said he welcomed recent indicators showing an improvement in the economy, but the company hasn't yet seen any impact.
Orders for Christmas 2013 are some 2% down on last year, although its fledgling Irish operation is growing fast with orders 15% ahead of last year, Johnson said.
In its e-commerce unit, sales through highstreetvoucher.com web site are currently 28% above last year, the chairman said.
"The next three months, as always, are critical for Park, with cash balances above last year and growth in online and corporate markets, we look forward with confidence," Johnson said.
Separately, the company said Laura Carstensen and Michael de Kare-Silver will join the board as independent Non-Executive Directors, replacing Christopher Baker and George Marcall who step down Monday after 12 years on the board.
The company's shares were down 3.4% at 53.75 pence Monday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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