Change of responsibilities of Director

RNS Number : 8855F

Card Factory PLC

25 February 2015

 



For immediate release                                                                                                                 25 February 2015

CARD FACTORY PLC

Change of responsibilities of Director

In accordance with LR 9.6.11R of the UK Listing Authority's Listing Rules, Card Factory plc ('Card Factory' or 'the Company') announces that, following the appointment of Paul McCrudden as an Independent Non-Executive Director, its Non-Executive Chairman, Geoff Cooper, has stepped down from his role as a member of the Company's Audit and Risk Committee with immediate effect. His role is otherwise unchanged.

In accordance with the requirements of the UK Corporate Governance Code, the Audit and Risk Committee continues to be comprised of three Independent Non-Executive Directors being David Stead (Chairman), Octavia Morley and Paul McCrudden. 

ENDS

Enquiries

Card Factory plc                                [phone]

Richard Hayes, Chief Executive Officer

Darren Bryant, Chief Financial Officer

MHP Communications                  [phone]

John Olsen                        

Simon Hockridge

Notes to Editors

Background information

Card Factory is the UK's leading specialist retailer of greeting cards and related gifting items. It focuses on the value and mid-market segments of the UK's large, resilient and growing greeting cards market, and also offers a wide range of other quality products, including small gifts and gift dressings, at affordable prices. Card Factory principally operates through its nationwide chain of over 750 Card Factory stores, as well as through its online offerings: (www.gettingpersonal.co.uk which sells personalised cards and gifts) and www.cardfactory.eu.com (which sells a selection of the products available in Card Factory stores).

Card Factory commenced operations in 1997 with just one store and has expanded its store estate primarily through organic growth into a market-leading value retailer with a nationwide presence. The Group's stores are in a wide range of locations including on high streets in small towns through to major cities, shopping centre developments, out-of-town retail parks and factory outlet centres.

Over the last 10 years, Card Factory has developed a vertically integrated business model with an in-house design team, an in-house printing facility and central warehousing capacity of over 360,000 sq. ft. This model differentiates the Group from its competitors by significantly reducing external costs and adding value to customers in terms of both price and quality, underpinning the Group's motto: "compare the quality, compare the price".

Card Factory sold over 285 million single cards in the financial year ended 31 January 2014. In that year, the Group achieved revenue growth of 9.0% to £326.9 million and underlying EBITDA growth of 9.2% to £80.4 million (2013: £73.6 million) at a margin of 24.6%.

 

END

 

 

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