Card Factory (LSE:CARD) has signalled trading in the occasions market remains solid as the retailer reported a strong set of interim results.
Having already tipped the results would be ahead of expectations, Card Factory (LSE:CARD) unveiled a 72.7% jump in pre-tax profit to £24.7 million at the half-year stage.
“We continue to be encouraged by the resilience of the celebration occasions market and the growth opportunity it presents,” the company said in a statement.
Revenue increased by 11.5% to £220.8 million as earnings per share jumped from 3.4p to 5.6p.
Like-for-like sales growth came in at 10%, with store revenue climbing but online activity reducing as the retail sector continues to “rebalance” following the pandemic, the group said.
“We are delighted to announce a strong performance in the first six months of this year,” chief executive Darcy Willson-Rymer commented.
“We continue to focus on the delivery of our long-term targets and in achieving our ambition of becoming a market-leading omnichannel retailer of cards and gifts.”
Looking ahead, the London-listed retailer reiterated guidance, expressing confidence “in delivering a good outturn for the year”.