StockMarketWire.com - Online retailer and education group Findel said its annual performance would be at the upper end of market expectations, driven by growth in customer numbers and increased sales at Express Gifts over Christmas.

Overall trading in the company's fiscal fourth quarter through March was 'quieter', the company said.

However, the business also benefited from stronger collections of credit receivables to contribute towards overall operating profit growth of around 20% for the year, it added.

The operational turnaround of Findel Education, meanwhile, was progressing well, with its core UK brands seeing sales decline narrow to 2% in the second half after a decline of 10% in the first half.

Around half of sales are were coming through online channels, up sharply from around 18% at the start of the year.


At 3:03pm: [LON:FDL] Findel PLC share price was +15p at 266p



Story provided by StockMarketWire.com