StockMarketWire.com - Greeting cards and gifts retailer Card Factory swung to an annual loss on a sharp fall in revenue as the pandemic forced it to shutter its stores.

For the year ended 31 January 2021, pre-tax losses were £16.4 million compared with a profit of £65.2 million last year, as revenue fell 36.9% to £285.1 million.

Profit was hurt by pandemic-enforced lockdowns that saw its stores closed for an average of five months.

Currently, the company said it doesn't expect to pay any dividends in relation to FY22

'We have successfully reopened our entire store estate following the third lockdown and delivered a reassuring performance in stores, whilst maintaining online momentum,' the company said.


Story provided by StockMarketWire.com