British greeting card retailer reports a jump in revenue

Card Factory Plc has reported an increase in annual revenue as it sold more cards at a higher average selling price and said it planned to declare a special dividend in September.

The British greeting card retailer, which sells most of its products for under a pound, said like-for-like sales rose 2.9 per cent for the year ended Jan 31, driving a 6 per cent increase in full-year revenue to £422.1m.

Card Factory, which opened 50 new UK sites last year, also raised its 2017 total dividend by 2.2 per cent to 9.3 pence.

However, underlying full-year core profit fell 4.6 per cent to £94m on higher costs.