|
Appreciate Group PLC - Merseyside, England-based multi-retailer redemption product provider to corporate and consumer markets - Posts total revenue of £65.8 million for the three months ended December 31, up 10% from £59.7 million the year before. Says it has continued to ‘prioritise driving profitable billings within its High Street Vouchers business ahead of volumes’. In the Appreciate Business Services market, Appreciate is focused on ‘retaining existing corporate clients while increasing the number of new clients purchasing from us for the first time,’ it adds. New client numbers have increased by 27% compared last year, offset by a reduction in average order value of 8% across the entire ABS client base.
Says trading in the third quarter reflects the normal pattern of seasonality. As a result, its profit outlook remains in line with expectations despite the current economic headwinds.
Executive Chair Guy Parsons says: ‘We are pleased to report trading has been in line with expectations despite the challenging macroeconomic environment. We have continued to work to accelerate the simplification of the business and to drive our most profitable billings, which is intended to enhance earnings in the medium term. We are also ensuring that we are earning a suitable risk adjusted return from the large cash sums held on deposit.’
Current stock price: 41.86 pence each, up 2.2% on Friday afternoon in London
12-month change: up 79%
By Xindi Wei, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
