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PRIVACY
Retail & Consumer

Record quarter for gifting group helps return billings to pre-pandemic levels

The group's brands include Love2shop, highstreetvouchers.com and Park Christmas Savings

Ian O'Doherty, CEO of the Appreciate Group

A record quarter for a division of Merseyside-based gifting firm Appreciate Group helped push its underlying billings to heights not seen since before the Covid-19 pandemic.

The AIM-listed company has reported underlying billings of £96.1m for its third quarter, the three months to December 31, 2021.

That figure compares to the £96.8m it posted during the same period in 2020, and the £85.1m from 2019.

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For the year to date, the group has posted underlying billings of £180.5m, up from £164.6m in 2020 and £166.5m in 2019.

The group, whose brands include Love2shop, highstreetvouchers.com, Park Christmas Savings and Appreciate Business Services, has reported a best-ever quarter for its corporate business with billings of £77.6m.

The group added that it is on track to meet its expectations for the year as a whole with its underlying billings for the fourth quarter up 8% on FY2020 and 10% on FY2021 as of January 17.

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Chief executive Ian O'Doherty said: "The group has delivered a strong peak quarter, underpinning our expectations for the year as a whole, and providing further evidence that our strategy to provide a robust and scalable platform for growth is delivering.