Appreciate Group Q2 billings above pre-pandemic levels

Gifting and engagement company Appreciate Group said on Tuesday that trading had improved since the announcement of its full-year results at the end of June.

Appreciate stated corporate and gifting billings in the second quarter were 14.6% ahead of levels seen in the 2020 financial year, the last "normal" trading year before the Covid-19 pandemic, with year to date billings now up 3.6%, a "considerable improvement" on the first quarter.

The AIM-listed group highlighted that its performance was also "significantly better" than at the same point in the prior trading year, which was severely impacted by the first lockdown.

Appreciate added that as the UK economy and consumer confidence continued to show signs of returning towards pre-pandemic levels, the firm believes it has positioned itself well to benefit from any upward economic trajectory.

Separately, Appreciate revealed that chair Laura Carstensen intends to step down from the role as part of the board's succession plan.

Carstensen will continue to serve as chair until a suitable successor can be found in order to enable an orderly handover.

As of 1035 BST, Appreciate shares were up 6.12% at 29.29p.