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Annual Results

Another record year for Card Factory

28 March 2017 07:32

Card Factory has increased its total dividend by 7.15 after another record year.

Revenues for the year to the end of January rose by 4.3% to £398.2m and underlying EBITDA increased by 3.8% to £98.5m.

Underlying operating profits were 3.0% up at £87.8m.

The group declared a final dividend of 6.3p - up 5% - to take the total to 9.1p per share - up 7.1%.

The groip also declared a special dividend of 15p per share - unchamged from last time.

Chief executive Karen Hubbard said: "Having joined the Group just over a year ago, I have undertaken a detailed strategic review of the business and I am confident that our existing, proven four pillar strategy is the right one to ensure future business growth.

"However, with the benefit of fresh eyes, I believe that within the four pillars there are additional opportunities to further strengthen the business for the longer term, and these will be prioritised in the year ahead. "Over the last year, it is that established strategy which has allowed us to deliver a good performance in a challenging retail market.

"Our store LFL sales remained positive and our business continued to deliver best-in-class margins whilst remaining highly cash generative, allowing another 15p special dividend to be paid to shareholders in 2016. "Whilst the new financial year is only two months old and seasonal sales patterns are distorted by Easter and Mother's Day falling three weeks later than last year, we are pleased with everyday like-for-like sales in the year to date."

Story provided by StockMarketWire.com

Related Company: CARD

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