Card Factory has posted a jump in full year profit after it benefited from customers returning to its stores post-pandemic.
In the year to 31 January, pre-tax profit rose to £52.4 million from £11.1 million a year earlier, while EBITDA increased by 28.6% to £112 million after trading was underpinned by strong in-store sales.
While store sales rose by 7.6% on a like-for-like basis, online sales fell by 18.8% year-on-year, due to customers returning to the high street and the impact of Royal Mail strikes during the Christmas trading period. This meant that the group’s annual revenue climbed by 27.1% to £463.4 million.
Card Factory said its new ranges and value for money offer resonated well with customers and drove both store transactions and average basket values.
