StockMarketWire.com - UK home shopping and education business Findel posts a pre-tax profit from continuing operations before exceptional items of £26.5m for the 52 weeks to 27 March - 28% up on last time.

Revenue from continuing operations rose by 2.8% to £481.4m and operating profits from continuing operations rose by 20% to £36.6m.

The group reports a loss from continuing operations of £1.7m against a profit of £5.6m last time and loss for the year of £25.3m against a profit of £0.5m.

Chairman David Sugden said: "These results represent another year of progress for Findel, with Express Gifts continuing to drive the Group forward. There remains significant opportunity for further growth within this business as we continue to grow the depth and breadth of our ranges and improve the customer experience. "We are confident that the new management team in place at Findel Education, together with a sharper market focus, will deliver an improvement in performance over the medium-term. Kitbag has delivered a substantial recovery and has started to capitalise on the significant growth opportunities open to the business. "Overall, we expect to achieve further profit growth, which together with a further reduction in core debt, will deliver improved returns for shareholders."








Story provided by StockMarketWire.com