Park Group results for the year to 31 March 2019 were in line with our expectations and those of the market. The core offering of higher-value, own-branded, multi-retailer redemption product, c 85% of billings, showed good progress, although profit deferral to future periods increased under IFRS 15. Despite this and costs associated with the strategic plan, adjusted profits were little changed. Plan implementation costs will have an increased effect this year, but management targets a relatively quick payback period and medium-term income statement benefits of £2-5m pa.Den vollständigen Artikel lesen ...
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