Card Factory reports half-year revenue of £198m

Card Factory has reported revenue of £198 million in its half-year report ended 31 July – a near 70 per cent increase from £116.9 million in the same period of 2021.

The card retailer also reported Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of £43.8 million from £23.6 million in 2021 and said that the business continued to be effective in managing inflationary headwinds through a combination of efficiency measures and targeted price increases.

The half-year report also noted that the company had successfully completed refinancing providing liquidity headroom to deliver strategy.

"We are pleased to report a strong performance through the half which reflects continued good momentum within the business, as well as the reversal of lockdown trends with customers choosing to return to the high street,” said Darcy Willson-Rymer, chief executive officer of the Card Factory. “The pronounced shift in spend back towards stores supports our continued conviction in the value of our store estate within our customer proposition and as an enabler in our omnichannel ambitions.”

She added: “During the half, we have made good strategic progress as we focus on evolving our customer proposition across different channels and taking it to new markets.”

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