STOCK WATCH

SHARES in Card Factory plunged after the greeting cards retailer warned its profit margins will be hit by ‘significant’ pressure from inflation.

It now expects profits for its next financial year to be below expectations. It will be raising prices to reduce the damage.

The gloomy forecast overshadowed better than expected trading in the 11 months to the end of December, which saw it upgrade forecasts for its current year.

The shares tumbled 15.8pc, or 10p, to 53.5p.