Expansion Helps to Deliver Record Year
Tue 05 Apr 2016
Wakefield’s Card Factory has seen revenue climb towards a £400m record year. With 50 new shops opening across 2015 the retailer can now count more than 800 stores UK wide.
Alongside its more recent online sales presence over revenue rose from the year to 31 January 2016, revenue at the business rose from £353.3m to £381.6m, while pre-tax profit soared from £42.7m to £83.7m.
Outgoing Chief Executive Richard Hayes said;
"This has been another excellent year for Card Factory."52
"We have continued to expand our store portfolio and grow our market share, and our complementary online sales channels are progressing very well.
"We have maintained our industry-leading margins and believe that we are better placed than most to manage the increased cost pressures that our sector is facing.
"Our strong cash generation has allowed us to deliver excellent returns to shareholders by returning surplus funds through both ordinary and special dividends.
"I am fortunate to have had the opportunity to lead Card Factory through an exciting period of growth and change. It is a very strong business with a great team of people who have all contributed to growing the business from a small chain of discount stores to a vertically integrated high margin value retailer with over 800 stores nationwide and two transactional websites."
Following the announcement of Karen Hubbard to the board as incoming CEO in January 2016, Richard Hayes who has been Chief Executive since 2008 will stand down.