Greetings Today magazine, giving you the bigger picture

Card companies among Britain’s most profitable businesses

Two greetings cards companies are among the top 50 companies with the fastest growing profits in Britain, a new business survey has revealed.

Online manufacturer and retailer Moonpig.com has bagged 3rd place and the value retailer, Card Factory, has come in 50th place in the Profit Track 100 survey, showing there is still plenty of scope for greetings businesses to drive growth, cut costs and make money, despite challenging economic conditions.

Moonpig.com's profits have grown a staggering 150 percent over the past 3 years with the latest sales figures coming in at more than £31 million.  The company was founded in 1999 and employs just 73 people.

Fuelling Moonpig's growth as the launch of new websites in Australia and America last year.  This, backed with an extensive marketing campaign and TV advertising has reaped rewards through increased demand and sales plus lower production costs through economies of scale. Profits have grown from £742,000 in 2007 to £11.6m in 2010.

According to founder and Chairman Nick Jenkins the company sent out 8m tailor-made cards last year.  The cards can be customised with users to adding their own personal message and captions into the designs.  

Wakefield-based greetings card and gift retailer, Card Factory has also been flying the flag for British business with profits growing 59 percent in the past 3 years against sales of almost £216m.  The value card chain founded in 1997 employs 5,298 staff and has more than 500 shops across the country.  Husband and wife team, Dean and Janet Hoyle set up their bargain card business from the back of their van and have since developed a high-street presence with over 500 stores across the country.  The expansion was part funded by personal investment and the purchase of 74 outlets from the celebrations Group in 2008. A management buyout bid by Chief Executive Richard Hayes in 2010 purported to be around £350m, plus further acquisitions and store openings have seen profits rise from £12.6m in 2007 to £51.5m in 2010.

The Profit Track 100 is researched and compiled by Fast Track, the Oxford-based networking events and research company that ranks Britain’s top performing private firms and hosts networking events for entrepreneurs.

The survey, published by the Sunday Times and sponsored by PwC, is now in its 12th year. It ranks Britain’s private companies with the fastest growing profits over their last 3 years of audited accounts.


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