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Card Factory (LSE: CARD)

Last close As at 20/11/2024

GBP0.81

▲ 1.40 (1.75%)

Market capitalisation

GBP284m

Card Factory is the UK’s leading specialist retailer of greeting cards, gifts and celebration essentials. Its UK and Ireland customers are served via an extensive store estate and digital channels. Partnerships and franchises provide further access to UK and international customers.

The UK greetings card market is very fragmented, with competitors including specialist chains, grocery chains, other generalists and online operators. CARD’s value for money proposition versus its competitors is well understood by the UK consumer. The single card market is described as resilient. Historically, it has been low growth, with volume declines being offset by price growth.

Latest Insights

View More

Consumer | Update

Card Factory — Confident on FY25 outlook

Consumer | edison tv

Card Factory – executive interview

Consumer | Initiation

Card Factory — Look inside the card

Consumer | edison tv

Card Factory – executive interview
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Sector

Consumer

Equity Analyst

Russell Pointon

Russell Pointon

Director of Content, Consumer and Media

Key Management

  • Darcy Willson-Rymer

    CEO

  • Matthias Seeger

    CFO

Balance Sheet

Forecast net debt (£m)

15.7

Forecast gearing ratio (%)

5

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (10.2) (36.9) (28.2)
Relative (7.0) (35.3) (33.6)
52 week high/low 143.0p/79.6p

Financials

Card Factory’s H125 results demonstrated good year-on-year revenue growth of c 6%, which included growth in the card category and strong growth from newer categories. Profitability declined due to the previously guided phasing of cost inflation as well as strategic investments. Management has indicated that its expectations for the full year are unchanged, suggesting strong profit growth in the second half as productivity and efficiency savings, range development and management of operating costs complement typical revenue seasonality.

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2023A 463.4 111.2 51.6 12.33 6.6 2.8
2024A 510.9 123.8 64.2 13.85 5.9 2.5
2025E 545.8 134.9 67.1 14.37 5.7 2.4
2026E 588.9 143.2 74.2 15.91 5.1 2.2

Research

edison tv

Consumer

Card Factory – executive interview

Initiation

Consumer

Card Factory — Look inside the card

Consumer

Update

Card Factory — Confident on FY25 outlook

edison tv

Consumer

Card Factory – executive interview

Thematics

thematic

Consumer

ConsumerWatch – Don’t look down

thematic

Consumer

ConsumerWatch – The times they are a-changin’

thematic

Consumer

ConsumerWatch – Give me a reason to love you

thematic

Consumer

ConsumerWatch – At least someone loves me
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