Park Group full year sales surge 21%

The retailer’s investment in its prepaid card system, Flexecash, paid off over the year. It has issued more than £75m of value since its launch in June 2010, most of which it said was incremental.

Park has 47 leading retailers including Argos, Boots and Debenhams signed up to accept the cards.

The voucher specialist is to launch mobile and email delivery of its prepaid products imminently. Park said the move would “open new markets which have been difficult to penetrate.”

Its Christmas savings business performed well with 2011’s figures up 5% year-on-year. Park’s Christmas 2012 orders are up approximately 6%.

The retailer traded in Ireland for the first time last year following its acquisition of Dublin-based Celtic Hampers and Family Hampers in October 2010. It said its Euro voucher had been well received.

Its corporate divisions Love2reward increased billing volumes by 15% over the year which it said was down to product innovation.

Park group managing director Chris Houghton has been promoted to chief executive of the group following chairman Peter Johnson’s move to non-executive.