Card Factory PLC - Wakefield, England-based greeting card and gift retailer - Swings to annual profit in its financial year ended January 31, boosted by its online performance. Pretax profit stands at GBP11.1 million versus a loss of GBP16.4 million a year ago. Revenue climbs by 28% to GBP364.4 million from GBP285.1 million. Operating cash flow up 42% to GBP113.6 million from GBP79.9 million.
Online performance was "significantly ahead of pre-pandemic levels," as the firm expects its revenue to return to levels before the pandemic in the new financial year 2023. Trading in new year so far in line with its own expectations. Sees further revenue growth to over GBP600 million in financial year 2026.
The firm does not reinstate dividends "until certain elements of the group's facilities are repaid," it explains. Card Factory ceased dividend payouts following the outbreak of the Covid-19 pandemic.
Current stock price: 66.24 pence, up 13% on Tuesday
12-month change: down 25%
By Tom Budszus; tombudszus@alliancenews.com
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Card Factory (CARD)