Findel (FDL)

Business description

Findel comprises market-leading businesses in the UK online value retailing and education supplies markets. Findel’s objective is to develop sustainable growth in a marketplace for value-conscious customers who are rapidly moving their purchases online.

Stock data

Market cap.£159m
Last close184.50p
High / Low (52 weeks)215.8p / 155.0p
Stock market listingLN
Forecast net debt (£m)237.6
Forecast gearing ratio (%)639
TeamConsumer
SectorGeneral Retailers

Price performance

%1m3m12m
Actual(3.9)(7.8)9.5
Relative *(4.3)(10.1)(1.7)

* % Relative to local index

Other companies in sector Show

Company news

Sales boost at Findel but Kitbag posts loss

Wed, 27 Nov 2013 09:14:41 GMT

Findel PLC

Fri, 27 May 2011 19:31:53 GMT

Findel's Express Gifts subsidiary enters redress scheme with the FCA over the ...

Fri, 17 Feb 2017 08:15:56 GMT

Findel appoints new CEO, full year profits to miss market forecasts

Thu, 06 Apr 2017 10:07:30 GMT

Why are Findel plc, Trakm8 Holdings plc and Game Digital plc among today's ...

Tue, 14 Jun 2016 11:26:15 GMT

Investment summary

The jump in online sales mix from around 56% a year ago to 63% in FY17 is significant in showing Express Gifts’ rapid progress towards becoming a pure-play online business. New management confirms the strategy and meanwhile has drawn a line under legacy issues, while the balance sheet is adequate to deal with these and the operation’s development needs. We are materially raising our valuation to 324p and believe that, as Findel moves more fully online, there will be further upside to its revenue growth and, consequently, share price.

Last updated on 18/07/2017

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 410.6 41.8 24.8 23.0 8.0 17.9
2017A 457.0 40.8 22.2 20.4 9.0 13.0
2018E 485.2 46.5 26.0 24.9 7.4 22.4
2019E 507.6 50.9 28.5 27.3 6.8 5.3

Last updated on 18/07/2017

Latest video

Executive interview - Findel

Industry outlook

UK retail sales (excluding fuel) increased 0.5% y-o-y in March and Q1 volumes (excluding fuel) fell by 1.2% q-o-q. However, March online sales increased 19.5% y-o-y, representing a continuing tailwind for Express Gifts. Pressure on schools' budgets continues to restrain Education, which is why it is focusing on self-help measures.

Last updated on 03/07/2017

Key management

Ian Burke , Chairman
Philip Maudsley , CEO
Stuart Caldwell, CFO
Philip Maudsley , CEO

Company address

Church Bridge Street,
Henry Street,
Accrington,
Lancashire
BB5 4EE
United Kingdom
+ 44 (0)161 303 3465
View website