Appreciate Group, a company specializing in gifting, experiences, and retailer redemption programs, has achieved a strong performance in the third quarter of this year. This success has not only met their expectations for the year but has also laid a solid foundation for future growth. In the three-month period ending on December 31st, the company’s underlying billings reached £96.1 million, which represents a 13% increase compared to the pre-pandemic third quarter. Furthermore, this figure is in line with the billings in the third quarter of the previous financial year.

December proved to be a particularly fruitful month for Appreciate Group, with billings skyrocketing by 41% to £45.6 million. However, due to exceptional performances during the Christmas period in fiscal year 2021, billings fell by 2% compared to the same period this year. Digital billings also experienced growth, rising by 13% year-on-year to reach £27.2 million.

When examining billings through in the third quarter, it is evident that they reached £18.4 million. While this indicates a 9.5% increase compared to the third quarter of the previous financial year, it does represent a 5.4% decrease compared to the exceptional performance observed during stricter lockdown restrictions in the third quarter of fiscal year 2021. Overall, year-to-date billings are up by 8% compared to fiscal year 2020 and 10% compared to fiscal year 2021.

The positive momentum seen in the third quarter has continued into the early weeks of the fourth quarter, with underlying billings surpassing those of the previous two financial years as of January 17th. These billings were 8% higher than fiscal year 2020 and 10% higher than fiscal year 2021. Appreciate Group’s CEO, Ian O’Doherty, expressed confidence in the company’s continuous growth, particularly in their digital solutions and corporate proposition, both of which make up the majority of their business. He acknowledged that these strong results reinforce confidence in the group’s brand, proposition, and market position. Despite uncertainties related to the economy and the ongoing pandemic, the company remains optimistic about their long-term growth prospects.

For more information, you can visit Appreciate Group’s website here and here.