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Findel (FDL)

Business description

Findel is a multi-channel retailer operating across the business-to-consumer and business-to-business market places. It is a market leader in the home shopping and educational supplies sectors in the UK.

Stock data

Market cap.£255m
Last close295.00p
High / Low (52 weeks)298.0p / 150.2p
Stock market listingLN
Forecast net debt (£m)228.2
Forecast gearing ratio (%)385
TeamConsumer
SectorGeneral Retailers

Price performance

%1m3m12m
Actual3.510.563.3
Relative *3.84.857.5

* % 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

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

Wed, 28 Feb 2018 12:18:08 GMT

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

Fri, 17 Feb 2017 08:15:56 GMT

Investment summary

With no exceptionals, PBT grew by 21% reflecting a strong pre-Christmas marketing campaign. Total revenue on a 52-week basis grew 5.9%, led by Express Gifts up 8.9%. Express online sales increased from 63% to 68%, with 84% of new customers placing their first order online. We believe that, with the customer redress programme close to conclusion within current provisions, the Education business stabilised and core net bank debt (excluding receivables-related debt) close to net positive, the main negatives in the investment case have been removed.

Last updated on 29/06/2018

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2017A 457.0 40.8 22.2 20.4 14.5 20.7
2018A 479.0 46.6 26.8 25.9 11.4 22.3
2019E 508.8 52.1 28.5 27.5 10.7 7.7
2020E 538.6 55.7 30.9 29.8 9.9 8.0

Last updated on 20/06/2018

Latest video

Executive interview - Findel

Industry outlook

In the three months to May 2018, UK retail sales (excluding fuel) increased by 2.2% y-o-y by volume, and 4.2% by value, illustrating a degree of retail price inflation. Online sales rose by an average 15.0% over the same three months, representing a tailwind for Studio. 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 29/06/2018

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