Park Group looks for strong results

Gift voucher supplier Park Group gave a positive update on Wednesday, saying it expected a strong financial performance in its full year figures.

The firm said investment in its prepaid card system, flexecash, and the ongoing development of its web-based business had created substantial opportunities.

The results of this were now beginning to be reflected in sales volume, it said, with 47 large retailers now accepting or having agreed to accept it's pre-pay cards.

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Park added that it was sitting on record cash balances, currently 21% - £11m - greater than a year ago.

"During the year we have also launched mobile applications to improve customer service and will shortly be launching mobile and email delivery of our prepaid products," the company said.

"This will open new markets which have, until now, been difficult to penetrate."

It also said its Christmas savings business also performed well, with 2011 sales volumes 5% up on the year before.

"Indications for Christmas 2012 are similarly encouraging with an increase in orders of approximately 6%," the firm added.