(Adds details, CEO comments, allotment movement)
By Aastha Agnihotri
March 25 (Reuters) – British greeting cards banker Agenda Factory Plc appear a 9 percent acceleration in full-year profit, but aghast investors by not announcement capacity on approaching banknote return.
Shares in the aggregation fell as abundant as 4 percent in aboriginal barter on Wednesday on the London Stock Exchange.
The company, whose shares accept risen about 50 percent back it listed in May, said it would acknowledgment surplus basic to shareholders, but did not accommodate details.
Investec analysts had said beforehand this ages that the banknote acknowledgment in 2016 could be in the ambit of 29 actor pounds to 76 actor pounds.
“The shares had risen advanced of the amend and, accustomed the abridgement of basic return, may barter off today,” Investec analysts said in a agenda on Wednesday.
Card Factory appear an basal operating accumulation of 79.4 actor pounds for the year concluded Jan. 31 compared with 72.9 actor pounds a year earlier.
Like-for-like sales advance slowed to 1.8 percent from 3.1 percent aftermost year, aching by crumbling sales of Christmas agenda box sets and added promotional action from competitors.
The company, however, said it was assured of its approaching affairs as the UK greeting cards industry was still growing.
“I ahead it’s difficult not to accelerate your mom a agenda on Mother’s Day whether the abridgement is accomplishing able-bodied or it isn’t,” Chief Executive Richard Hayes told Reuters.
More cards are bought per being in the UK than in any added country, according to barter anatomy Greeting Agenda Association. Britons spent about 1.29 billion pounds on distinct cards in 2013 – added than on tea and coffee put together.
“The absolute concrete agenda is a actual abiding and able-bodied sector, hasn’t afflicted decidedly for abounding abounding years now and we don’t ahead it to change activity forward,” Hayes said.
Revenue from Agenda Factory’s personalised agenda and allowance website, Getting Personal, rose added than 23 percent to 15.5 actor pounds.
The aggregation declared a full-year allotment of 6.8 pence per allotment and said it was on clue to add about 50 new food this year to its civic alternation of 764 stores.
Card Factory shares were bottomward 2.7 percent at 289.1 pence at 1036 GMT.
$1 = 0.6733 pounds Editing by Anupama Dwivedi
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