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Sparks Team
17 April 2018 · 1 min read

Findel (FDL); trading update: strong FY 2018 performance

Stock up 3.59% to 260.0p at 08.02

The group’s PBT is expected to be at the upper end of market expectations of £26.0m to £26.5m.

Express Gifts saw strong growth in customers and sales. Although trading in Q4 was quieter, overall operating profit grew about 20% for the whole year. Findel Education’s operational turnaround is progressing well, with its core UK brands seeing sales decline narrow to 2% in H2 from 10% in H1. Around half of the sales are now through online channels, up from 18% at the start of the year. Net debt at year-end was about £74m, down by about £7m from the previous year.

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