Tuesday, February 19, 2019

Findel sales given boost by Express Gifts’ rapid growth


Findel recorded an uptick in sales in the first 16 weeks of its second half, boosted by a surge in sales and new customers at its largest business Express Gifts.

Findel, an online value retailer and education business, said total sales in the 16 weeks since October 1 went up 11 per cent year-on-year, almost double the 6.5 per cent growth recorded in the first half of its financial year.

On its own, Findel‘s Express Gifts experienced sales growth of 14 per cent, boosted by its Christmas trading period.

READ MORE: Ian Burke takes the reigns at Findel as executive chairman

Express Gift‘s new customer recruitment target for 2016 was also “significantly” exceeded, with the customer base by the end of the year 13 per cent higher at 1.56 million. 

Findel‘s net debt at the end of December stood at £81.8 million, down by £9.3 million from the previous year.

The retailer said profit for the full year is expected to be within the range of current market forecasts.

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