Stock data
| Market cap. | £137.9m |
| Last close | 74.00p |
| High / Low (52 weeks) | 84.2p / 65.8p |
| Stock market listing | LN |
| Forecast net cash (£m) | 35 |
| Forecast gearing ratio (%) | N/A |
| Team | Financials |
| Sector | Financials |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 0.0 | (4.2) | (12.7) |
| Relative * | (2.7) | (6) | (11) |
* % Relative to local index
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Company news
Investment summary
Park Group continued to trade well in H119, with order books in line with expectations, a reduced seasonal loss, strong cash flow and the interim dividend increased by 5%. The anticipated IFRS 15 restatement showed a relatively modest annual profit deferral of c 3%, with no impact on billings, ultimate profitability, cash flow or dividend-paying capacity. The early results from the strategic review undertaken by the new senior management team highlight the good growth potential in multi-retailer redemption products and the strengths of Park’s existing offering, with additional opportunities for growth and efficiency through streamlining, simplification and an acceleration in the digital enablement. Card and digital formats are leading growth in existing markets and will be given yet more focus. Park also plans to use that same technological and product capability to further penetrate the consumer market, a £2bn+ market opportunity where its current penetration is minimal compared with its dominant position in the Christmas savings market and strong position in the business sector.
Last updated on 01/02/2019
| Y/E Mar | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2017A | 119.6 | 10.4 | 11.9 | 5.1 | 14.5 | N/A |
| 2018A | 111.1 | 12.7 | 12.6 | 5.5 | 13.5 | N/A |
| 2019E | 114.3 | 12.8 | 12.8 | 5.6 | 13.2 | N/A |
| 2020E | 119.5 | 14.1 | 14.3 | 6.2 | 11.9 | N/A |
Last updated on 29/01/2019
Latest research
Building on strengths
Update | Financials | 19/12/2018
Continued growth in earnings and cash
Update | Financials | 27/06/2018
Billings deferred but implied margin positive
Update | Financials | 21/05/2018
Innovating to grow earnings and cash
Outlook | Financials | 13/02/2018
Key new initiatives progressing
Update | Financials | 21/09/2017
Strategic and operational progress
Update | Financials | 23/06/2017
Further progress in the key second half
Update | Financials | 07/04/2017
Product innovation continues with Mastercard
Outlook | Financials | 10/02/2017
Continuing to innovate
Update | Financials | 08/04/2016
Trading momentum maintained
Flash note | Financials | 25/09/2015
Operational gearing
Update | Financials | 28/07/2015
Positive momentum maintained
Update | Financials | 25/06/2015
Latest video
Industry outlook
The market is estimated at c £6bn by the UK Gift Card & Voucher Association, and is fragmented, providing significant opportunities for growth.
Last updated on 01/02/2019
Key management
| Laura Carstensen, Chairman |
| Ian O'Doherty, CEO |
Company address
| Valley Road Birkenhead Merseyside CH41 7ED United Kingdom +44 (0) 151 653 1700 View website |