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PRIVACY
Retail & Consumer

Digital jump helps protect gifting firm Appreciate Group from pandemic's worst impact

Appreciate Group expects to publish its full year results in June

Ian O'Doherty, CEO of Appreciate Group

Merseyside-based gifting firm Appreciate Group has said it is "well placed" as the º£½ÇÊÓÆµ emerges from lockdown despite the Covid-19 pandemic hitting its finances.

The AIM-listed group has reported billings of £33.3m for the year to March 31, 2021, of £187.5m, down 8% from £203.8m.

The total comes off the back of a fourth quarter which saw billings fall 11.2% from £37.5m to £33.3m.

In an update to the London Stock Exchange, the group added that its results for the year were in line with market expectations.

It also said that a "resilient" second half performance reflected "strong" corporate demand, increased digital sales and its previous restructuring actions which helped mitigate the impact of Covid-19.

Overall digital billings increased 286% from £17.7m to £68.4m.

The group's brands include Love2Shop, highstreetvouchers.com, Park Christmas Savings and Appreciate Business Services.