Group 1: Financial Performance - Card Factory reported a revenue increase of 5.9% to £247.6 million in the first half, despite a decline in adjusted profit before tax by 9% to £13.2 million [2][3][4] - Like-for-like store revenues improved by 1.5% year on year, while online sales at cardfactory.co.uk dropped by 11.3% [3][6] - Net debt rose by 5.3% to £78.9 million, although cash from operations improved significantly from £17.5 million to £30.5 million [4][6] Group 2: Cost Pressures - The decline in profits was attributed to rising costs, including significant increases in the National Living Wage and National Insurance contributions, with an expected cost inflation exceeding £20 million for the full financial year [6][9] - Investments aimed at improving efficiency, such as a new point of sale system, also contributed to the profit decline [6][7] Group 3: Strategic Initiatives - Card Factory's organic partnerships business saw a turnover increase of 15.7% year on year, attributed to the success of its full-service model [3] - The company acquired online greetings retailer Funky Pigeon for £24.1 million to enhance its digital growth strategy [10] Group 4: Future Outlook - The CEO expressed confidence in the company's growth strategy and preparedness for the upcoming festive season, maintaining guidance for adjusted pre-tax profit growth in the mid-to-high single-digit percentage range [9][10]