Card Factory, the U.K. retailer specializing in greeting cards and related products, has announced a significant increase in pretax profit for the first half of fiscal year 2024. The company remains confident in its ability to maintain a positive performance throughout the year.

For the period ending July 31, Card Factory reported a pretax profit of £24.7 million ($30.2 million), compared to £14.3 million during the same period last year. This notable growth can be attributed to robust sales across all aspects of the business.

Revenue also saw a substantial increase, rising from £198.0 million to £220.8 million. The driving force behind this revenue growth was a strong 10% increase in like-for-like sales. Card Factory attributes this positive momentum to its core Stores business.

Moving forward, the company is optimistic about its prospects and expects to maintain its positive performance throughout fiscal year 2024. Current trading has been in line with expectations.

Card Factory’s success can be attributed to its consistent trading momentum and successful execution of strategic initiatives. As a result, the company remains confident in achieving its long-term financial and operational targets outlined in its Capital Markets Strategy Update.

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