The Christmas savings group founded by former Everton FC and Tranmere Rovers owner Peter Johnson has cut its losses to the lowest amount in the last five years.
Appreciate Group, which agreed to be acquired by PayPoint in a £83m deal earlier this month, has posted pre-tax losses of £1.2m for the six months to September 30, 2022. That compares to losses of £2.9m during the same period in 2021.
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The group's revenue dipped from £41m to £38.7m while its billings fell from £118.2m to £103.1m.
The Liverpool-headquartered group's brands include Love2shop, highstreetvounchers.com, Park Christmas Savings and Appreciate Business Services and is listed on AIM.
Appreciate was known as Park Group until 2019. It was best known for its Christmas hampers but has long diversified into a wider range of savings products.
Executive chairman Guy Parsons said: "Appreciate Group traded in line with the board's expectations during the first half and remains on track for the financial year as a whole.
"This is an excellent performance given the macroeconomic challenges.
"We believe that the group is well positioned for the current economic climate as our offerings are based around value for money and savings.
"We are confident that with the leadership changes and a renewed focus on costs, growth, and simplification, the business will continue to prosper."
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