Card Factory PLC · LSE:CARD
Card Factory — Investor Day (May 2023)
99 slides from Card Factory's investor day presentation, May 3, 2023
Slide 1: Capital Markets Strategy Update
Capital Markets Strategy Update 3 May 2023 This presentation contains certain forward-looking statements with respect to the financial condition, results of operations, and businesses of Card Factory plc. These statements and forecasts involve risk, uncertainty and assumptions because they relate to
Slide 2: Section 1. Business overview
Section 1. Business overview Darcy Willson-Rymer CEO 2
Slide 3: Welcome
Welcome Purpose of today Updates on: • Opening Our New Future Strategy Darcy Willson- Jen Lawrence Brian Waring Adam Dury • Delivery capability Rymer Executive Director Executive Director, Chief Commercial CEO for People and Customer Officer Transformation • Projected financial performance Sam Davie
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Slide 5: Putting customer data at the heart of our decision making
Putting customer data at the heart of our decision making • Applying customer data into our thinking and ability to respond to market change. • Our new Customer function is providing data and insight to drive decision making. • The outcome is a continually improving our range and delighting our cust
Slide 6: Having a strong leadership capability throughout the business
Having a strong leadership capability throughout the business • New talent ensures we have the right people with the right capabilities and experience. • Increased investment in time and training for leadership we need at every level. • Have developed a high challenge, high support leadership cultur
Slide 7: Transformation capability to deliver on growth ambition
Transformation capability to deliver on growth ambition • At the heart of this capability is our new Transformation Office. • This is providing the planning, collaboration and risk management diligence we need to deliver at pace, on time and on budget. 7
Slide 8: Focusing on the core fundamentals of our business
Focusing on the core fundamentals of our business • Optimised our product and range to provide greater choice. • Focused on our service experience to help customers find what they need. • Increased capacity in key growth areas, such as online. • Leaner stock management and using price as a lever. 8
Slide 9: Financial stability in place to support next stage of business development
Financial stability in place to support next stage of business development • Successfully navigated supply chain pressures and inflationary environment over the last two years. • Ensured the right financial structure for the balance sheet. • Successful refinancing of the business last year was cruci
Slide 10: We're facing a changing market
We’re facing a changing market • The landscape has shifted in the past two years. • Footfall is returning to more normalised shopping behaviour. • We’re investing to help our growth ambition. • A partnerships focus in the UK and internationally will take time, but gives us the opportunity to update
Slide 11: Opening Our New Future
Opening Our New Future cardfactory will become: • The leading omnichannel brand helping customers every day to celebrate life’s special moments. • The UK’s number one destination for all customers seeking unrivalled quality, value, choice, convenience and experience. • And a global competitor puttin
Slide 12: Building Blocks of Growth
Building Blocks of Growth targeting revenue Vision: To be the leading omnichannel retailer in our sector with extensive UK and ROI footprint Categories: Greeting cards, Celebration Essentials and Gifts. Channels Company Owned: Stores and Online. £650m and growing international presence. Channels Par
Slide 13: Strategy overview
Strategy overview The leading omnichannel retailer in our sector with extensive UK & ROI footprint and growing international presence At cardfactory, we make sharing in and celebrating life's moments special and accessible for everyone Value & Choice Convenience Experience Leadership Authority in Di
Slide 14: Business Model in FY27
Business Model in FY27 Da t a De sign Ma n u fa ct u r in g Dist r ib u t io n Ro u t e t o m a r ke t Cu st o m e r 1000+ cardfactory Omnichannel stores Online, including Customer Studio & Printcraft and Centre fulfilment, cardfactory.co.uk, Happy profiles & commercial other cardfactory to store, o
Slide 15: Sustained focus on ESG priorities with update at Interims on new five year plan
Sustained focus on ESG priorities with update at Interims on new five year plan • Operate sustainably across all areas of our business. • Positive impact on our people, our customers, our communities and the environment. • Operate with integrity and transparency and always strive to do the right thi
Slide 16: Momentum for growth
Momentum for growth • The business is in good shape with a strengthened balance sheet now in place. • We are clear on our core business priorities and building blocks of growth. • Having made a strong start on our growth delivery in FY23, we are confident in our ability to reach our revenue target o
Slide 17: Section 2. Transformation capability
Section 2. Transformation capability Jen Lawrence Executive Director for People and Transformation 17
Slide 18: Creating the culture and behaviours that will allow the business to transform
Creating the culture and behaviours that will allow the business to transform • Positive headway in evolving our cultural behaviours. • Progress made is delivering positive results. • Training and encouraging the right outcomes. 18
Slide 19: This change has been recognised in our delivery and through awards
This change has been recognised in our delivery and through awards Creating the culture and behaviours that will allow the business to transform. 19
Slide 20: Updated values defining decision-making, customer interaction and approach to strategy delivery
Updated values defining decision-making, customer interaction and approach to strategy delivery We celebrate our We lead the way differences We stay curious, agile and We know that diversity is a strive for better superpower We make it happen We do the right thing We care We take personal We make ti
Slide 21: The core enablers of change
The core enablers of change • Cultural change to embrace the needs of our customers. • Developing our leadership capability. 21
Slide 22: Cultural change is delivering positive outcomes
Cultural change is delivering positive outcomes • Customer-centricity. • Data-led decision-making. • Creative thinking. • Pace of change and agility of thinking. • Cross-functional alignment & collaboration. 22
Slide 23: Our leadership capability is continually evolving
Our leadership capability is continually evolving • Upweighted leadership talent. • Leadership capability development. • Devolved decision-making. 23
Slide 24: Delivering a pay and benefits model we can be proud of
Delivering a pay and benefits model we can be proud of Our objective is to reward everyone fairly, inclusively and competitively. Progress to date includes: • Increased pay median. • Significant benefit improvements. Resulted in reduction of store manager turnover from 9% to 3%. 24
Slide 25: Delivering key strategic initiatives within our IT roadmap
Delivering key strategic initiatives within our IT roadmap 1.Enterprise Resource Planning implementation. 2.Store network upgrade. Our roadmap of initiatives is to deliver an omnichannel experience, partnerships and operational improvements. Significant progress has been made in strengthening our cy
Slide 26: Our new Transformation Office has been built to deliver on the five year transformation plan
Our new Transformation Office has been built to deliver on the five year transformation plan Placing the right talent Plan alignment across Team collaboration in the right roles the business Combining project management Redesigning the and change management skillsets operating model 26
Slide 27: Section 3. Market & customer
Section 3. Market & customer Brian Waring Executive Director, Customer 27
Slide 28: We are making a strategic shift to a much larger addressable market
We are making a strategic shift to a much larger addressable market • We have defined our market as Celebration Occasions. • In the UK alone it is worth c.£13.4bn1. • Within this, we will focus on Greeting Cards, Celebration Essentials and Gifts. • This represents a significant growth opportunity fo
Slide 29: Customers are returning to more normalised shopping behaviour
Customers are returning to more normalised shopping behaviour Kantar greeting card share of spend from January 2020 – December 2022 Lockdown 1 Lockdown 2 Lockdown 3 cardfactory Competitor 1 Competitor 2 Competitor 3 Source: Kantar Worldpanel Plus (Physical Retail) data Jan 2020-Dec 2022 29
Slide 30: We have observed sizable swings in channel mix but evidence suggests we are returning to a new normal
We have observed sizable swings in channel mix but evidence suggests we are returning to a new normal UK greeting cards value, channel mix online/offline FY18 – FY23 8% 10% 13% 36% 28% 21% 92% 90% 87% 64% 72% 79% FY18 FY19 FY20 FY21 FY22 FY23 Online Offline Source: cardfactory bespoke annual UK gree
Slide 31: Consumers are impacted by the cost of living crisis but importance of celebrations remain resilient
Consumers are impacted by the cost of living crisis but importance of celebrations remain resilient Overall Consumer Sentiment index, 2021 - 2023 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 2021 2022 2023 Source: GlobalData Retail’s UK Futu
Slide 32: Our value for money proposition is resonating strongly
Our value for money proposition is resonating strongly cardfactory is well positioned with market Recognised as a leading perceptions in value for money top 20 most loved UK retail brand #1 #1 For low For value prices for money Source: Left - cardfactory bespoke annual UK greeting cards market surve
Slide 33: These strengths give cardfactory a highly differentiated position in the UK market
These strengths give cardfactory a highly differentiated position in the UK market High Higher quality perception retailers are Bubble size = Overall Value for Money Perception generally seen as more expensive Lower price retailers tend to be delivering below Independent average on quality Moonpig C
Slide 34: We're benefiting from more customers, visiting more often and spending more
We’re benefiting from more customers, visiting more often and spending more More customers Frequency has increased In the last three months of shopping with cardfactory with customers visiting the year customers were in the last 12 months1 more often2 spending more with us too3 +9.5% 4.5 vs 3.5 +2.9
Slide 35: Our position in the UK Greeting Cards market provides a platform for growth
Our position in the UK Greeting Cards market provides a platform for growth UK Greeting • UK Greeting Cards market has Cards historically been our core focus. c£1.4bn 1 • The market is proving resilient with further growth opportunities. • Over 40 million UK adults buying Greeting Cards in past year
Slide 36: UK market growth is being driven by younger audiences
UK market growth is being driven by younger audiences Number of cards purchased per buyer (16 – 24 year olds)1 30 Top four reasons for card 28 buying – 16 - 24yrs2 26 Number of Cards per Buyer 1. I like people to know I'm 24 thinking about them 22 2. A card is more personal than 20 an email or text
Slide 37: We have successfully extended into the UK Celebration Essentials markets
We have successfully extended into the UK Celebration Essentials markets UK Celebration • Includes close adjacent categories such Essentials as balloons, party, wrap and bags. c£2bn 2 • Good progress with cardfactory No.1 in balloons and No.2 in party in the UK1. • Substantial further opportunity fo
Slide 38: We have significant opportunity to build share in the sizeable UK Gifts market
We have significant opportunity to build share in the sizeable UK Gifts market UK Gifts • c£10bn addressable market out of a c£40bn total UK Gift market1. c£10bn 1 • Categories of focus include soft toys, stationery, books, candles and more. • With less than 1% share of these categories, cardfactory
Slide 39: We are focused on the £13.4bn Celebration Occasions market in the UK, plus International
We are focused on the £13.4bn Celebration Occasions market in the UK, plus further International opportunities UK International Greeting Cards market Celebration Essentials Gift market Card and gift market opportunity c£1.4bn 1 c£2bn 2 c£10bn 3 c£80bn+4 Source: 1 - cardfactory bespoke annual UK gree
Slide 40: Our brand strategy focuses on customers and their celebrations
Our brand strategy focuses on customers and their celebrations Our brand purpose… We make sharing in and celebrating life's moments special and accessible for everyone. Our proposition… Creating celebrations for all life’s moments. 40
Slide 41: Our brand health is strong and positions cardfactory in the top quartile of UK retail brands
Our brand health is strong and positions cardfactory in the top quartile of UK retail brands 90% 43% 42.1 awareness consideration NPS score (+19pp vs (+21pp vs (+12 pt. vs competitor avg) competitor avg) competitor avg) Source: Savanta BrandVue February 2022 to January 2023. Competitor comparison is
Slide 42: We have developed a new segmentation to deepen our understanding of customers
We have developed a new segmentation to deepen our understanding of customers Bargain 1 2 Celebration Hunters Enthusiasts Traditionals 6 3 Obligated Indifferents 5 4 Joy Seekers 42
Slide 43: Our new understanding reveals growth opportunities with existing and new customers
Our new understanding reveals growth opportunities with existing and new customers Grow (existing customers) Acquire (new customers) • Grow loyalty through increased occasions • Opportunity to target and acquire. and basket size. • 64% of the acquisition segment are familiar • Currently capturing 65
Slide 44: We are primed to take advantage of growth opportunities ahead
We are primed to take advantage of growth opportunities ahead • Our proposition is attracting more customers, more often and spending more. • We are refocusing on growth within the larger c.£13.4bn UK Celebration Occasions market, plus International1. • We are becoming more customer-centric placing
Slide 45: Section 4. Delivery on Growth
Section 4. Delivery on Growth 45
Slide 46: Store estate growth ambition
Store estate growth ambition Adam Dury Chief Commercial Officer 46
Slide 47: Plan to grow store estate sales to around £520m by FY27
Plan to grow store estate sales to around £520m by FY27 targeting targeting £441m £520m 80% 4.2% store sales FY23 in FY27 of total sales CAGR in FY27 (FY23 to FY27) 47
Slide 48: Continued growth of UK and ROI store estate
Continued growth of UK and ROI store estate 1,032 c +90 Stores Stores by FY27 (January 31 2023) 48
Slide 49: We will continue to develop and build upon the existing strength of our nationwide store portfolio
We will continue to develop and build upon on the existing strength of our nationwide store portfolio • Continue with our core principle of lower cost, flexible leases with a target three year break clause. • Target underpenetrated markets including ROI and testing a central London format. • Ongoing
Slide 50: Additional initiatives to drive store sales growth
Additional initiatives to drive store sales growth • Store evolution programme to optimise expanding gifting offer. • Investing in the service experience we provide our customers. • Unlocking the omnichannel opportunity. 50
Slide 51: Leadership in Cards
Leadership in Cards Adam Dury Chief Commercial Officer 51
Slide 52: Maintaining Leadership in Cards
Maintaining Leadership in Cards • Maintain value for money proposition. • Adapt range to consumer trends. • Simplify in-store experience. 52
Slide 53: Continually expanding our range to include a wider breadth of celebratory captions
Continually expanding our range to include a wider breadth of celebratory captions • We’re helping people celebrate more, as one example for a pet’s birthday. • On Mother’s Day one of our top selling cards was a card from the dog. • This shows people are looking to expand the cards they buy and give
Slide 54: Diversity and sustainability is key to broaden our range appeal
Diversity and sustainability is key to broaden our range appeal • Our range is continually expanding to include a wider breadth of celebratory captions. • We’re responding to demand around diversity and sustainability, and optimising customer choice with curated card ranges. • Broadened our range wi
Slide 55: Evolving our card range using data-led decision making
Evolving our card range using data-led decision making • The product and design choices we are making use data analytics to ensure we have better targeting and focusing. • We change best sellers more frequently as customers are more likely to become tired of seeing the same, popular range. 55
Slide 56: We're simplifying the in-store experience
We’re simplifying the in-store experience • Improving the ease of shopping cards in fixtures. • Installing better store navigation. • Improving our visual merchandising. 56
Slide 57: Seasonal performance supported by new and improved range, expanding gifting, and strong value for money offer
Seasonal performance supported by new and improved range, expanding gifting, and strong value for money offer 57
Slide 58: We're accelerating our speed to market to improve the topicality of the offer
We’re accelerating our speed to market to improve the topicality of the offer • Enhanced customer understanding to ensure the right product in the right store or channel at the right time. • Accelerating our speed to market to improve the topicality of the offer across both the store estate and digi
Slide 59: Gift and Celebration Essentials opportunities
Gift and Celebration Essentials opportunities Adam Dury Chief Commercial Officer 59
Slide 60: Considerable opportunity with an identifiable addressable UK market of £12bn in Gift and Celebration Essentials
Considerable opportunity with an identifiable addressable UK market of £12bn in Gift and Celebration Essentials Market share: • FY23 is 1.7%1 • FY27 is 1.9%1 Significant headway has already been achieved in FY23: • Everyday like for like growth of 11.4%. - Confectionery sales growth +111%. - Tablewa
Slide 61: We broadened our categories by introducing new third party brands and licenced ranges
We broadened our categories by introducing new third party brands and licenced ranges 61
Slide 62: We have made in-store improvements to make shopping our gifting range easier
We have made in-store improvements to make shopping our gifting range easier Store Evolution Programme 1. Space realignment; • reallocating so slightly more priority for gifts. • 750 stores in FY24. • Capex light with payback within one year. 2. Display reorganisation; • Cards on the perimeter gifts
Slide 63: Capturing and converting new customers by building on our Gifting and Celebration Essentials success
Capturing and converting new customers by building on our Gifting and Celebration Essentials success • Expanded distribution centre capacity to retain high levels of availability. • New ranges to disrupt market and grow market share. • Customer understanding to improve ranging. • Maximise the omnich
Slide 64: Delivery on omnichannel and online growth ambition
Section 4. Delivery on omnichannel and online growth ambition Sam Davies Executive Director for Digital 64
Slide 65: Building upon our multichannel offer to become an omnichannel retailer
Building upon our multichannel offer to become an omnichannel retailer • Online retailer through our platforms cardfactory.co.uk and gettingpersonal.co.uk. • Extensive UK and Republic of Ireland store network. • As an omnichannel retailer we will connect all channels to provide seamless shopping exp
Slide 66: Combined omnichannel and online target is to contribute £30m in revenue growth through to FY27
Combined omnichannel and online target is to contribute £30m in revenue growth through to FY27 targeting £17m sales FY23 £47m sales in FY27 7% of our total FY27 sales 66
Slide 67: Progress with our first omnichannel proposition - Click & Collect
Progress with our first omnichannel proposition - Click & Collect Trial saw a Click & UK Nationwide rollout Trial saw average order Positive customer Collect service to over 1000 stores value of +16% vs current feedback with 4.3 out across 87 stores. was completed at end online average and an of 5 s
Slide 68: Wide range of investment happening across the business to enable the omnichannel strategy
Wide range of investment happening across the business to enable the omnichannel strategy • ERP (Enterprise Resource Planning). • In-store network upgrade. • Customer Service Excellence Training. 68
Slide 69: Our ambition to be the best value online player
Our ambition to be the best value online player • Offering a competitive experience that meets and exceeds customer expectations. 1. Fixing the basics – replatforming, new talent and support. 2. Building the right proposition – expanding the range and reducing pricing to reflect value credentials. 3
Slide 70: Our five propositions within our wider omnichannel strategy
Our five propositions within our wider omnichannel strategy Click & Collect Balloons Assisted Selling UK Nationwide rollout Building on our Better supporting our store now complete. Next stage capability to add a colleagues and customers to improve the collection balloon collection with Mobile PoS.
Slide 71: Transforming our business into a leading omnichannel retailer
Transforming our business into a leading omnichannel retailer • We will offer the ability for customers to interact with us in whatever way they choose. • We will be able to not only meet but exceed their expectations by offering multiple services and options with outstanding service and value. 71
Slide 72: Delivery on growth for partnerships
Section 4. Delivery on growth for partnerships Syed Kazmi Executive Director for Business Development 72
Slide 73: Partnership opportunity, progress and way forward
Partnership opportunity, progress and way forward targeting £5m sales FY23 £84m sales in FY27 12.9% of our total FY27 sales 73
Slide 74: Our Franchise partnership model in more detail
Our Franchise partnership model in more detail cardfactory gives Partner gives Brand cardfactory provides a strong brand The partner provides a commitment with an extensive product range to a market development plan. and creative brand assets. Expertise Through our partner playbooks, We depend on ou
Slide 75: Our wholesale partnership model in more detail
Our wholesale partnership model in more detail Wholesale - Supply Only Wholesale - Full Service Format • Straight to shelf • Straight to shelf • cardfactory Shop in Shop • cardfactory Shop in Shop cardfactory • Supply of product • Supply of product gives • Last mile logistics • In-store merchandisin
Slide 76: Identified target markets alongside UK & Republic of Ireland
Identified target markets alongside UK & Republic of Ireland UK & REPUBLIC OF IRELAND CANADA USA INDIA MIDDLE EAST SOUTH AFRICA AUSTRALIA NEW ZEALAND Source: cardfactory international expansion research, commissioned with GlobalData July 2022 76
Slide 77: Tailoring our offer for individual markets by leveraging creative
Tailoring our offer for individual markets by leveraging creative 77
Slide 78: Proportion of baskets that included a gift when purchasing a greeting card
Proportion of baskets that included a gift when purchasing a greeting card India 89.1% Middle 87.6% East South Africa 82.7% USA 44.5% Australia 39.8% New Zealand 39.7% Canada 38.2% Source: cardfactory international expansion research, commissioned with GlobalData July 2022 78
Slide 79: Liwa will target 36 cardfactory stores across the region
Liwa will target 36 cardfactory stores across the region KUWAIT BAHRAIN SAUDI UNITED ARAB ARABIA QATAR EMIRATES OMAN 79
Slide 80: New partnerships are built on successful pilots already in place
New partnerships are built on successful pilots already in place 10% 3% 949 year on year growth in number partner locations revenue growth of distribution worldwide points of sale Our partners today include… 80
Slide 81: Succeeding in our target international markets is dependent on how we can operate as a business to support our partners
Succeeding in our target international markets is dependent on how we can operate as a business to support our partners • Recent acquisition of South African Greetings is incredibly beneficial. • It gives us a foothold into the target South African market with a small retail estate. Key wholesale ac
Slide 82: Store design
Store design 82
Slide 83: Partnerships revenue growth pathway FY23 to FY27
Partnerships revenue growth pathway FY23 to FY27 Revenue (£m) FY23 FY24 FY25 FY26 FY27 FY23 FY24 FY25 FY26 FY27 83
Slide 84: Target revenue contribution by region from partnerships
Target revenue contribution by region from partnerships Revenue by region- FY27 £84m in FY27 South Africa UK & ROI (partner contribution) USA Australia Middle East Canada New India Zealand 84
Slide 85: In summary for partnerships
In summary for partnerships Our partnerships approach will support our growth ambition by delivering greater; • Value • Choice • Convenience and • Experience For customers both at home and internationally. 85
Slide 86: Section 5. Financials
Section 5. Financials Simon Comer Interim Chief Financial Officer 86
Slide 87: Targeting £650m revenue by FY27
Targeting £650m revenue by FY27 Covid Impacted FY20 FY21 FY22 FY23 FY27 (Actual) (Actual) (Actual) (Actual) (Target) Revenue by Channel (£m) Stores (UK & Republic of Ireland) 429.3 251.9 344 441.1 519.0 Online 19.4 27.6 23.8 17.3 47.0 Partnerships (UK & International) 3.0 5.6 4.6 5.0 84.0 Group Tota
Slide 88: Diversification of income sources
Diversification of income sources Store Target growth to continue growth in UK and Republic of Ireland at 700 the same time as diversifying portfolio to deliver 20% of the Partnerships – CAGR: 102.3% business from: 600 Percentage of Total = 13% Online – CAGR: 27.5% • Build out points of purchase Per
Slide 89: Core business and building blocks of growth
Core business and building blocks of growth Initiatives growth Stores £80m Online £30m Partnerships £80m 700 600 500 Build out points Build out points New of purchase Grow share of purchase Propositions through through Sales £millions Build of Gifts through fixing franchise and (leveraging store 400
Slide 90: Driving profitable growth
Driving profitable growth Incremental PBT Incremental PBT Incremental PBT 25% of Revenue 27% of Revenue 13% of Revenue 100 90 80 Profit before Tax (PBT) £millions £2.5m CJRS Settlement and £1.0m on 70 re-financing Initiatives contribution 60 reflects transition to franchise/ wholesale model 50 PBT 4
Slide 91: Costs managed during growth (excludes Partnerships)
Costs managed during growth (excludes Partnerships) Revenue £368m Revenue £458m Revenue £566m 100% 2% 10%1 14% Profit before tax 90% 20% 13%1 Depreciation 80% 11% & Financing Investment in 70% 16% 15% OPEX & Other Direct Infrastructure and 15% Marketing 60% Percent to Sales 4% 6% Property Costs 6% 5
Slide 92: Partnerships – transition to international franchise/wholesale model
Partnerships – transition to international franchise/wholesale model Revenue £6m Revenue £5m Revenue £84m 100% 14% Profit before Tax 90% 27% 80% 12% OPEX & Other Direct 49% 70% 60% 26% 26% Merchandising Wages Percent to Sales 50% 7% 40% 30% 48% Purchases 20% 43% 40% 10% 0% FY22 FY23 FY27 FY23 invest
Slide 93: Category mix (excludes Partnerships)
Category mix (excludes Partnerships) Revenue £368m Revenue £458m Revenue £566m 100% 90% 16% 16% 17% Gifts 80% 70% 34% 34% 36% Celebration Essentials 60% 5.7% Percent to Sales 50% 40% 30% 50% 50% 47% Greeting Cards 20% 10% 0% FY22 FY23 FY27 FY23 maintains category mix profile with Card making up 50%.
Slide 94: Liquidity, Dividends and Capital Policy
Liquidity, Dividends and Capital Policy Liquidity Facilities RCF Term Loan CLBILS Total £150m debt facilities agreed April 2022 As at 31 January 2023 £100m £28m £16m £144m • Revolving Credit Facility of £100m, maturing in As at 31 January 2024 £100m £19m £0m £119m September 2025 • £50m in loans (£30
Slide 95: Profitable growth and pathway to recommencing dividends
Profitable growth and pathway to recommencing dividends • Target to deliver around £650m revenue by continuing to grow UK and Republic of Ireland at the same time as diversifying portfolio to deliver 20% of the business from Online and Partnerships. • Capital invested to grow revenue and build neces
Slide 96: Close
Section 5. Close Darcy Willson-Rymer CEO 96
Slide 97: Summarising our strategy roadmap through to FY27
Summarising our strategy roadmap through to FY27 Initiatives Near term Middle term Maximise use of customer data to inform This will then reach maturity with the range Cards product design and ranging. tailored for different regions and demographics. Continuing our programme of portfolio Continuing
Slide 98: How we're set up for our growth pathway through to FY27
How we’re set up for our growth pathway through to FY27 We have clear strategic direction, detailed plans and a disciplined approach for delivery. We have a strong leadership team with relevant experience and capability to deliver on our building blocks of growth. We have a robust and strengthened b
Slide 99: Thank You
Thank You we welcome any questions you may have