(Alliance News) - Gift card and voucher firm Park Group PLC ahead of its annual general meeting on Tuesday said trading in the financial year to date has been in line with expectations as it proposed a name change.
The firm said it has seen continued growth in its Corporate business alongside a stable performance in the Christmas savings market.
"As we set out in our results statement in June, we are incurring costs associated with implementing the strategic business plan, which will suppress profitability this financial year," said Park Group.
The company said it is making "good progress" rationalising its "brand architecture" and, as part of this, Park Group has proposed changing name to Appreciate Group PLC.
"Overall, we continue to make significant strides in positioning the group to take full advantage of the opportunities available in our market," said Park Group.
Shares in Park Group were up 2.5% at 54.33 pence in London on Tuesday.
By Lucy Heming; lucyheming@alliancenews.com
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