Card Factory (LSE:CARD) said it is on track to deliver full-year profits in line with its profit warning in December, following a period marked by softer UK consumer activity and lower high street footfall.
For the 11 months to the end of December, total group revenue rose 7.3% year-on-year to £541.6 million, supported by the acquisition of Funky Pigeon and other operations in North America and the Republic of Ireland.
Store sales increased 1.1%, while like-for-like sales were flat.
Christmas trading met revised expectations, with total group revenue up 4.3% year-on-year across November and December. Store sales fell 0.8% and like-for-like store revenue declined 1.2% during the key festive period.
"We are on track to deliver profits in line with our revised guidance," said chief executive Darcy Willson-Rymer.
Last month, the company cautioned that it expected a fall in adjusted profit before tax to £55-60 million in the current financial year, from the £66 million reported last year.
"During the second half of the year and particularly the important Christmas period, trading in our UK stores reflected the challenging consumer backdrop which contributed to soft high street footfall,” he added.
Integration of Funky Pigeon was said to be progressing to plan. The company’s ‘Simplify and Scale’ programme has helped manage cost inflation.
The shares were up almost 0.6% at 70.01p in early trading on Wednesday.