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23 Sep 2008 07:00
For immediate release: 23rd September 2008
PARK GROUP PLC
("Park" or "the Company")
AGM STATEMENT
At the Company's Annual General Meeting to be held today at 12 noon Peter Johnson, Park Chairman will make the following statement:
"I am pleased to say that the Company has continued to perform in line with expectations and remains well placed for future growth. Cash balances on deposit are currently £101 million, £25 million higher than at the same stage last year, which will result in improved interest receipts. Both the Christmas Savings and Corporate Voucher divisions continue to grow, aided by our expanding online presence.
Online voucher sales, via our website www.highstreetvouchers.com, have increased markedly with a year on year increase of 119%. Moreover, www.getpark.co.uk has already started to take orders for Christmas 2009, a very encouraging sign for the future. We are nearing the completion of a new range of improved websites, which will further enhance our web offering to customers. These are expected to be in operation by Christmas this year.
Park remains resilient against the economic downturn given that the very nature of our business is to help customers save efficiently, a prudent trend in the current economic climate.
Overall, the outlook for the business remains positive and the Board is confident that the good progress made by the Company to date will continue."
-ends-
For further information please contact:
Peter Johnson / Chris Houghton
Park Group plc
Tel: 0151 653 1700
Pascal Keane
Shore Capital and Corporate Limited
Tel: 020 7408 4090
John West / Paul Young
Tavistock Communications
Tel: 020 7920 3150
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