Search Follow us

Park Group (PARK)

Business description

Park Group is a specialised financial services business and is one of the UK’s leading multi-retailer voucher and prepaid gift card businesses, focused on the corporate gift and Christmas savings markets. Sales are increasingly generated through the internet, supported by a direct salesforce and agents.

Stock data

Market cap.£137.9m
Last close74.00p
High / Low (52 weeks)84.2p / 65.8p
Stock market listingLN
Forecast net cash (£m)35
Forecast gearing ratio (%)N/A

Price performance

Relative *(2.7)(6)(11)

* % Relative to local index

Other companies in sector Show

3i Group Abbey Protection
Aberdeen Asset Management Admiral Group
AFH Financial Group Ai Claims Solutions
Allied Minds Alpha Strategic
Amlin APQ Global
Arbuthnot Banking Group Arden Partners
Ashford Ashford Hospitality Trust
Ashmore Group Attica Bank
Aviva Banca IFIS
Banca Sistema BB Healthcare Trust
Beazley Braemar Hotels & Resorts
Brewin Dolphin Brightside Group
Catlin Group Cenkos Securities
ChimpChange Circle Holdings
City of London Group Collins Stewart
Consus Real Estate Corestate Capital Holding
Covercy Creditshelf
Curtis Banks DeA Capital
Deutsche Börse Deutsche Grundstücksauktionen
DF Deutsche Forfait Empiric Student Property
Ernst Russ Experian
Fairpoint Group FBD Holdings
FCR Immobilien Ferratum Oyj
FinLab Freedom Holding Corp
Gable Holdings Gartmore Group
GCP Student Living German Startups Group
GLI Finance Grand City Properties
Hardy Underwriting Hargreaves Lansdown
Heartland New Zealand Helphire
Henderson Group Hiscox
HSBC Holdings ICAP
ICG-Longbow SSUP IE Financial
IFG Group IG Group
Impax Asset Management International Personal Finance
Is Yatirim Menkul Degerler JDC Group
John Laing Group Jupiter Fund Management
Lancashire Holdings Lighthouse Group
Liontrust Asset Management Lloyd Fonds
London Stock Exchange Group MAN Group
Market Tech Holdings Mattioli Woods
MCB Finance Group mic MPC Capital
MyBucks NEOVIA Financial
Noratis Novae Group
Numis Corporation Nurnberger Beteiligungs
Oakley Capital Investments Ocean Capital
Oekoworld Omega Insurance Holdings
OTC Markets Group Panmure Gordon
Picton Property Income Powerhouse Ventures
Prudential publity
Quayle Munro Holdings Randall & Quilter Investment Holdings
RCM Beteiligungs Record
Rensburg Sheppards RSM Tenon
S&U Sanlam Securities UK
Scherzer & Co Schroders
Secure Trust Bank Share
Shore Capital Group St. James's Place
Supermarket Income REIT Syndicate Asset Management
Tawa The Dolphin Square Charitable Foundation
Town Centre Securities Tungsten Corporation
UmweltBank Warsaw Stock Exchange
WH Ireland WorldSpreads Group

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 video

Executive Interview - Park Group

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
CH41 7ED
United Kingdom
+44 (0) 151 653 1700
View website