A leading greetings card and gifts retailer said it remained upbeat about its future growth despite reporting a fall in profits.

The Card Factory, which has stores throughout Gloucestershire, said its pre-tax profits had dipped by 1.1 per cent to £82.8million for the year ended 31 January.

However, it also reported that revenue had gone up by 4.3 per cent to £398.2million and, amid growing optimism about its prospects, that it had opened more than 50 new stores in the past year.

As part of what its describes as a four-pillar growth strategy, the Card Factory aims to increase sales in its shops, improve its market share, continue its current new store roll-out and find more opportunities to open more stores over the next 12 months.

Card Factory CEO Karen Hubbard said: "Having joined the Group just over a year ago, I have undertaken a detailed strategic review of the business and I am confident that our existing, proven four-pillar strategy is the right one to ensure future business growth.

"However, with the benefit of fresh eyes, I believe that within the four pillars there are additional opportunities to further strengthen the business for the longer term, and these will be prioritised in the year ahead.

"Over the last year, it is that established strategy which has allowed us to deliver a good performance in a challenging retail market.

"Our store like-for-like sales remained positive and our business continued to deliver best-in-class margins whilst remaining highly cash generative, allowing another 15p special dividend to be paid to shareholders in 2016.

"Whilst the new financial year is only two months old and seasonal sales patterns are distorted by Easter and Mother's Day falling three weeks later than last year, we are pleased with everyday like-for-like sales in the year to date."

What do you think? Email mark@moosemarketingandpr.co.uk