Source - SMW
Park Group said it is well placed with strong order books and sound finances.

"Trading is in line with expectations as we enter the busiest period of the year. We are therefore confident of another successful year ahead," the company said in a statement for its AGM meeting.

"Park is a seasonal business, which is usually loss making in the first half, as over three quarters of revenue is generated in the second half of the year," the statement said. 

"Nevertheless the first half performance is crucial as it lays the foundation for the full year's result as orders are secured during the period, but not dispatched and invoiced until the second half.  

"As a seasonal business our full year results will be determined over the coming calendar months as we complete the deliveries for our prepaid consumer customers and process orders for our corporate and e-commerce customers. 

"Cash balances, including monies held in trust, are around £18 million ahead of this time last year at £200 million. This increased figure largely reflects the growth in our order books, principally for the highly seasonal consumer business."

Park Group added that it has appointed John Gittins to its board as a non-executive director.




At 9:16am: (LON:PKG) Park Group PLC share price was +5.01p at 75.38p



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