StockMarketWire.com - Findel - the UK home shopping and education business - posts a first half pre-tax profit for the first time in six years: a profit of £1.5m against a loss of £0.4m last time.

And Findel says it is on track to enter 7-9% medium-term operating margin target range for the full year, driven by continued strength of Express Gifts, the group's largest business.

Sales in the period were marginally ahead at £244.1m (2013: £243.6m), reflecting a mixed sales performance across its four businesses and net bank debts fell to £115.9m - down from £131.7m.

Group chief executive Roger Siddle said: "We are pleased by the performance of our largest business, Express Gifts, which continues to demonstrate its potential against a more challenging retail environment. The opportunities within the business remain extremely attractive and we continue to focus on supporting their delivery.

"Although some of our businesses continue to face challenges, overall we remain well positioned for very strong continued progress and to achieve our target of an operating margin in excess of 7% for the full year."






At 8:33am: [LON:FDL] Findel PLC share price was -19.37p at 217.63p



Story provided by StockMarketWire.com