Park benefits as festive savings rise

Christmas hamper firm Park yesterday said savings for the festive season were up 5 per cent, amid signs the financial gloom was causing customers to set aside more money.

The firm previously said it expects to benefit from the government's austerity measures as consumers, worried about their finances, squirrel money away to make sure they can afford to buy presents at Christmas.

The amount of money customers had saved for Christmas so far in 2011 was also boosted by more people topping up their savings accounts online.

Park said all parts of the business performed well in the year to 31 March, while its Flexecash gift card had exceeded expectations.

The card is now used by 300 corporate clients, who top them up with credit and give them to staff as part of a reward scheme.