Stock market debutant Card Factory said it will continue to roll out new stores after posting a rise in underlying profits today.
The Wakefield-based firm, which employs 6,500 staff at 749 shops, is working towards the net addition of 50 sites in the current financial year, having opened 37 and closed one store in the six months to July 31.
The openings helped revenues rise 8.9% to £149.4 million in the period, with the figure 2.6% higher when changes in store space are stripped out.
Operating profits lifted 9.3% to £26.1 million but it swung to a bottom-line loss of £7.9 million, from £3.7 million a year ago, after booking £22.8 million of one-off charges caused by its May stock market listing and a debt refinancing.
Shares rose 2%, though it still trades below its 225p floatation price.
Chief executive Richard Haynes said: "Having completed our flotation on the London Stock Exchange earlier this year, it is pleasing to report a strong set of maiden interim results.
"We continue to deliver on each of our four pillars of growth - growing like-for-like sales; rolling out new stores; delivering business efficiencies; and increasing our online business."
Card factory said it was confident of boosting its estate to 1,200 shops over the long term.
It also reported a strong performance at its online business, Getting Personal, which saw sales rise 16% to £5.5 million and earnings more than double to £800,000. Its digital business was launched two years ago.
Brokers at Investec said Card Factory has "delivered a strong first-half performance", adding that the business was "a proven brand roll out story."
Card Factory, which began with one store in Wakefield in 1997, sold 285 million single cards last year.
The business said its charges of almost £23 million were largely made up of a mixture of flotation costs, shares issued to management at the time of the listing and debt refinancing fees.
The firm's May float raised £90 million, which paid down debt and allowed private equity firm Charterhouse to sell some of the shares it bought to secure a majority stake in the business from founders Dean and Janet Hoyle in 2010.
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