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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/austere-times-boost-festive-saving.jpg"><img class="alignnone size-full" title="Park Group has reported a 37 per cent leap in Christmas savings" src="http://londonglossy.com/wp-content/uploads/2010/12/min-austere-times-boost-festive-saving.jpg" alt="Park Group has reported a 37 per cent leap in Christmas savings"/></a></p>
<p>Savings and voucher firm Park Group has reported a 37% leap in Christmas savings as it said economic hard-times were driving people to put more money aside.</p>
<p>The group said Christmas savings rose to £5.8 million as consumers worried about losing their job or struggling to get credit squirrel money away to make sure they can buy presents in the festive season.</p>
<p>The average amount saved rose 6.9% to £401.</p>
<p>The company, which also sells vouchers to businesses, said revenues were up by 49% to £50.9 million in the six months to September 30.</p>
<p>It normally makes a loss in the first half of the year, but made £1 million pre-tax profits in the period as a result of its improved performance and a VAT rebate.</p>
<p>Managing director Chris Houghton said the company was already taking orders for Christmas in 2011 and expected to benefit from the Government&#8217;s spending cuts, which would encourage more consumers to save with Park.</p>
<p>&#8220;Our business has always done well in austere times as people prepare for an expensive time of year,&#8221; he said.</p>
<p>&#8220;Credit is harder to get and is expensive and there&#8217;s more general prudence as people want to avoid getting into debt.&#8221;</p>
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