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Card Factory going strong despite drop in footfall

By Staff Reporter

Published 28/09/2016

Card Factory has seen increased revenues and profits despite store sales taking a hit from slowing footfall on the UK's high streets
Card Factory has seen increased revenues and profits despite store sales taking a hit from slowing footfall on the UK's high streets

Card Factory has seen increased revenues and profits despite store sales taking a hit from slowing footfall on the UK's high streets.

The gifts and greetings cards retailer said like-for-like sales rose 0.2% in the six months to the end of July, with softer footfall delivering "lower than normal" sales growth in stores.

Revenues lifted 4.8% to £169.2m over the period, while pre-tax profits rose 7.3% to £27.6m.

The company said trading in recent weeks was similar to trends seen in the first half of the year.

Chief executive Karen Hubbard said the firm was "highly cash-generative" and was on course to hit its full-year targets for underlying pre-tax profits.

She added: "The potential for further growth - through like-for-like sales growth, further store rollout and the full exploitation of our online channels - is exciting."

She also announced a special dividend of 15 pence per share.

Belfast Telegraph

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