Card Factory : sees strong performance in H1, but still turns a loss
September 28, 2021 at 12:21 pm IST
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Card Factory has seen revenue surge during the first six months of the year, but the greeting cards retailer still ended up in the red.
EBITDA surged by 202.6 per cent, reaching £23.6m in the first half of the year, while revenue jumped by 16.3 per cent year on year to stand at a healthy £116.9m. Despite surging intake the company lost £6.5m in H1 while net debt remained close to £100m.
Darcy Willson-Rymer, Chief Executive Officer, commented: “the delivery of the growth strategy set out in July 2020 – and the broader retail environment itself – has obviously been impacted by Covid-19. However, it is clear that the right way forward is to transition Card Factory from being a store led card retailer into a market leading, omni-channel retailer of cards and gifts.”
The company has announced the ambitious target of over £600m of sales by FY 2026.
Card Factory plc is a United Kingdom-based specialist retailer of greeting cards, gifts and celebration essentials. The Companyâs segments include Cardfactory Stores, Cardfactory Online, Getting Personal, Partnerships and Printcraft. Its Cardfactory Stores segment includes retails greeting cards, celebration accessories, and gifts principally through a United Kingdom store network, with a small number of stores in the Republic of Ireland. Its Cardfactory Online segment includes retails greetings cards, celebration accessories, and gifts via its online platform. The Getting Personal segment is an online retailer of personalized cards and gifts. Its Partnerships segment sells greetings cards, celebration accessories and gifts via a network of third-party retail partners both in the United Kingdom and overseas. Its Printcraft segment is a manufacturer of greetings cards and personalized gifts and sells its output intra-group to the stores and online businesses.