Findel: Pack Up Your Troubles
Edison | Feb 05, 2016 06:37AM ET
Pack up your troubles…
Findel (L:FDL) has successfully completed the sale of Kitbag, further focusing the group on its home shopping and education divisions and reducing net debt. Although Q3 trading at Express was disappointing, there were encouraging signs of the long-term potential in that business.
Trading update
Group sales from continuing operations in the first 17 weeks of H216 increased 0.5%. Express grew sales 2.0%, with product sales up 0.8% and financial services revenues up 6.4%. Education further reduced its rate of sales decline in this relatively quiet period in its year and remains in line with guidance.
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