Christmas brings cheer back to Findel sales

Home shopping and sports-kit retailer Findel said sales in the second half rose 4.5 per cent so far as its Express Gifts business saw the strongest Christmas sales in four years.

By The Newsroom

Published 18th Jan 2012, 08:52 BST

The multi-channel retailer, which trades across home shopping, education and healthcare divisions, said sales at its largest business - Express Gifts - for the 15 weeks to January 17 rose 11.1 per cent from a year ago.

The company also said its active customer numbers rose 5.4 percent over the last 12 months on improved pricing.

“We expect this growth in both sales and customer numbers to result in the delivery of increased total cash margin and a strong operating profit performance for the year,” Findel said in a statement this morning.

In November, Findel had posted wider adjusted pretax loss for the first half on lower sales.

Findel shares, which have lost more than half their value over the last six months, closed at 3.6 pence yesterday on the London Stock Exchange, valuing the business at over £60m.