(Alliance News) - Card Factory PLC on Tuesday upped annual profit guidance on a better-than-expected second half so far.
Card Factory is a Wakefield, England-based retailer of greeting cards, gifts, wrap and gift bags.
Like-for-like sales are up 6.2% in the year-to-date, driven by "strong" in-store performances. Card Factory said both its online business and commercial partnerships have performed in line with expectations.
Card Factory now expects pretax profits to multiply to GBP37.5 million in the year ending January 31, from GBP11.1 million in 2022.
Earnings before interest, taxes, depreciation, and amortisation are expected to hit GBP96 million, beating current consensus of GBP88.8 million.
Card Factory shares were up 12% to 56.80 pence on Tuesday afternoon in London.
By Jaskeet Briah; jaskeetbriah@alliancenews.com
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Card Factory (CARD)