Gift voucher provider Park Group posted a first-half loss, as per normal as its earnings are biased towards the Christmas period.
Pre-tax losses for the six months through September amounted to £1.5m, narrowing from losses of £1.9m year-on-year.
Revenue fell 10% to £27.4m, even as billings increased 3.3% to £109.0m, as some low margin business was not repeated.
Park Group declared an interim dividend of 1.05p per share, up 5% on-year.
'Park performed well in the first half, consistent with our expectations for the year as a whole and we are encouraged by our order book which is ahead of the same time last year overall,' chairman Laura Carstensen said.
'We are excited to announce the principal pillars of our new strategic business plan and the initial actions we are undertaking to deliver it.'
'We continue to be encouraged by the future opportunities for Park and are optimistic about how the plan will enhance these opportunities further and accelerate our future growth trajectory.' At 1:56pm: (LON:PARK) share price was -1p at 77p
CORRECTION: This story was amended to clarify the seasonality of the business