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.£233.4m
Last close270.00p
High / Low (52 weeks)270.0p / 150.2p
Stock market listingLN
Forecast net debt (£m)234.6
Forecast gearing ratio (%)675
TeamConsumer
SectorGeneral Retailers

Price performance

%1m3m12m
Actual17.429.232.7
Relative *10.833.230.5

* % Relative to local index

Other companies in sector Show

Company news

Findel shares jump as full-year performance expected at upper end of expectations

Tue, 17 Apr 2018 10:41:15 GMT

Findel PLC

Fri, 27 May 2011 19:31:53 GMT

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

Thu, 06 Apr 2017 10:10:08 GMT

Is It Time To Buy Findel plc (LON:FDL)?

Thu, 15 Feb 2018 15:10:39 GMT

Findel plc (LON:FDL): When Will It Breakeven?

Wed, 28 Feb 2018 12:11:15 GMT

Investment summary

Findel indicates that it will finish FY18 at the top end of current market expectations. This suggests that both the online strategy and the turnaround strategy at Findel Education are on course. We upgrade FY18 profit forecasts to the new guidance level and retain our 312p valuation which, at an FY18e P/E of 10.5x, is modest for a company with an online presence of 72% and 13% PBT CAGR 2017-19e.

Last updated on 18/04/2018

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 11.7 26.2
2017A 457.0 40.8 22.2 20.4 13.2 19.0
2018E 477.4 47.2 26.5 25.4 10.6 25.0
2019E 505.6 51.9 28.5 27.3 9.9 8.4

Last updated on 18/04/2018

Latest video

Executive interview - Findel

Industry outlook

UK retail sales (excluding fuel) rose by 1.1% y-o-y by volume and 4.0% by value. Online sales rose 13.7% y-o-y, representing a tailwind for Studio. With wage growth lagging price inflation, the consumer is under pressure and value offers should benefit on a relative basis. The squeeze on schools' budgets continues to restrain the education supply sector.

Last updated on 06/04/2018

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