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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Findel Plc | LSE:FDL | London | Ordinary Share | GB00B8B4R053 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 233.00 | 230.00 | 233.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFDL
RNS Number : 2646E
Findel PLC
17 October 2018
17 October 2018
Findel plc ("Findel" or "the Group")
Trading Statement
Findel, the online value retailer and education supplies business, gives the following post-close trading update ahead of its interim results announcement on 28(th) November 2018.
Express Gifts, trading as "Studio", is the Group's largest business and grew revenue by 8% in the first 28 weeks of the year (a period which takes into account the changes to marketing activities across the half-year in 2017 due to the implementation of the Financier platform in early October 2017). Whilst growth in Q2 was slower than Q1, we have seen a much stronger response from customers in recent weeks as we start the peak trading period ahead of Black Friday and the Christmas period. Our expectations for full-year progress on revenue, margin and profit remain unchanged.
Education has continued to make good progress with its operational turnaround. Its core UK customer base has grown by 4% over the last year, driven by its online value proposition which has seen online ordering levels rise from around 20% in September 2017 to over 55% now. Our full-year profit expectations for both Education and the Group as a whole remain unchanged.
Core net debt for the Group at the end of September 2018 was c.GBP81m, being c.GBP9m lower than September 2017, and our expectations for net debt at the year-end remain unchanged. We are also approaching the end of our legacy customer redress programme, which continues to perform in line with existing provisions.
Enquiries
Findel plc
Stuart Caldwell
Phil Maudsley
0161 303 3465
Tulchan Communications LLP
Catherine James
Will Smith
020 7353 4200
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
October 17, 2018 02:00 ET (06:00 GMT)
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