StockMarketWire.com - Gift retailer Card Factory slashed its half-year losses thanks as higher prices offsetting a fall in sales.

For the six months ended 31 July 2021, pre-tax profit losses fell 70.7% to £6.5 million year-on-year as revenue rose 16.3% to £116.9 million.

'Increased average basket value across multiple categories, offsetting reduction in transaction volumes given reduced footfall,' the company said.

Looking ahead, 'we remain cautiously positive about the second half of FY22,' the company said.

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