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Voucher provider Park Group said it still expected to post a loss in the first half of its financial year, due to both seasonal drivers and investment spending.
Trading in the first five months of the company's financial year through March had been in line with expectations, chairman Laura Carstensen said in speech notes for the company's annual general meeting.
'We have seen continued growth in our corporate business alongside a stable performance in the Christmas savings market,' she said.
However, Carstensen also reiterated that Park was incurring costs associated with a strategic business plan that would supress profitability this financial year.
The costs related, she said, to the transition to new offices, as well as additional technology and marketing investment.
'As shareholders will be aware Park, is a highly seasonal business with the majority of revenue reported in the second half of the year, leading to reported losses in the first half of the year, as in prior years,' Carstensen said.
At 1:29pm: (LON:PARK) share price was +1p at 54p