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.£131.8m
Last close152.50p
High / Low (52 weeks)214.8p / 152.5p
Stock market listingLN
Forecast net debt (£m)237.6
Forecast gearing ratio (%)639
SectorGeneral Retailers

Price performance

Relative *(12.2)(7.7)(29.4)

* % Relative to local index

Other companies in sector Show

Company news

Are Analysts Bullish about Findel plc (LON:FDL) after last week?

Sun, 19 Nov 2017 14:03:45 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 10:10:08 GMT

Hyde Group Findel plc has grown its sales in the six months to September 27.

Wed, 27 Nov 2013 09:14:41 GMT

Investment summary

Express Gifts, the value retailer, now 63% online, contributed 98% of FY17 profit. Pre-tax profit was down 10%, mainly on Education headwinds and Express margins. Express revenue grew 16%, but new customer margins were lower. Exceptionals of £82m included updating the debt provisioning formula and provisions for financial product liabilities. Our 324p valuation reflects the strategy of moving inexorably to become a pure-play online retailer. After two months, Express was seeing over 10% revenue growth and both businesses are trading in line with expectations.

Last updated on 02/11/2017

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 6.6 14.8
2017A 457.0 40.8 22.2 20.4 7.5 10.7
2018E 485.2 46.5 26.0 24.9 6.1 18.5
2019E 507.6 50.9 28.5 27.3 5.6 4.4

Last updated on 19/10/2017

Latest video

Executive interview - Findel

Industry outlook

For the three months to August and excluding fuel, UK retail sales grew 5.3% y-o-y and volumes rose by 1.2% q-o-q. However, August online sales increased 15.6% y-o-y, representing a tailwind for Express. Wage growth of 2.1% (August) lags consumer price inflation of 3% (September), adding to consumer pressures. The squeeze on schools' budgets continues to restrain the education supply sector.

Last updated on 02/11/2017

Key management

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

Company address

Church Bridge Street,
Henry Street,
United Kingdom
+ 44 (0)161 303 3465
View website