Positive start to 2015 for Card Factory

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Card Factory said it has had a positive start to the year as it maintained strong revenue growth in 2015.

The greeting card retailer reported that in the three months ended April 30, revenue increased by 7.5 per cent, driven by a combination of like-for-like sales growth, new store roll out and further growth in its complementary online division.

Growth rate is in line with the 7.5 per cent revenue growth delivered in the second half of the year ended January 31.

Richard Hayes, Card Factory’s chief executive officer, said: “Following on from our record performance last year, we have had a positive start to our new financial year, with consistently strong revenue growth and cash generation and I remain confident that the group will achieve the board’s expectations for the full financial year.

“Our value retail proposition, built on our long-established vertically integrated model, remains highly differentiated, extremely difficult to replicate and, importantly, very attractive to the customer.

“We are also pleased to have further developed our online proposition through the launch of a new Card Factory website, which we are sure will be well received by our customers who will benefit from its enhanced functionality and access to a greater product range.”