Shares in Agenda Factory absent a tenth of their amount on Tuesday morning afterwards the abatement greetings agenda and ability banker appear falling half-year sales and balance and declared business altitude as “challenging”.
The group, which has warned on profits active this year, did not lower its full-year balance angle afresh alongside advertisement its half-year numbers. But it appear that sales in its food in the six months to July fell 0.7 per cent, on a like-for-like basis, compared to the aforementioned time aftermost year.
In the aboriginal fifteen account of London trading, Agenda Factory’s shares fell 9.7 per cent to 168p.
On a approved base Agenda Factory’s pre-tax profits rose 17.2 per cent to £27.2m, additional by the annualisation of antecedent amount headwinds, such as a acceleration in the British minimum allowance and the weaker pound.
But basal profits, which exclude the appulse of one-off costs and benefits, alone 9 per cent to £30m.
The accumulation additionally declared a appropriate allotment of 5p per share, which was at the basal end of the advice it had ahead accustomed shareholders about the payout.
Card Factory said that while trading on Valentine’s Day, Mother’s Day and Father’s Day was able and its online business did able-bodied in the bisected year, it was additionally hit by “lower aerial artery footfall in a anemic chump environment.”
Trading at its “getting personal” unit, which accomplish personalised ability and cards, additionally connected to be anemic with “with added amount antagonism and ascent costs of chump accretion impacting the business”, Agenda Factory said.
The accumulation has ahead abhorrent a cardinal of factors for anemic sales performance. In August it articulate the balance active because of awkward British weather, while in January it attributed a accumulation warning to college acceptation and allowance costs.
Despite these challenges, the accumulation is continuing to accessible new food in the UK and Ireland. It launched 25 new UK food in the bisected year, demography its absolute in the country to 940, and now has seven balloon food in Ireland.
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