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Greetings card retailer Card Factory has announced that it expects its profits for the year to be “materially ahead of its previous expectations” after a positive start to the year.
Trading in the six months ended 31 July 2023 was materially ahead of the board’s expectations.
The company posted profit before tax of £52.4m for the year ended 31 January 2023 with revenues of £463.4m.
A statement from the retailer said: “The macro backdrop continues to be uncertain, and there is still much to be delivered over the remainder of the year. Nevertheless, given the strength of the performance in the first half, together with our current outlook for the second half, the Board now expects the full year outturn to be materially ahead of its previous expectations.”
Last month Card Factory opened its first store in the Middle East as part of its international expansion.
