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Trading statements

Findel warns on FY profit

29 January 2016 10:16

Findel said its full-year profit will now be GBP2m-GBP3m lower than its previous guidance, linking this to Express Gifts' performance in Q3 together with forex headwinds.

"Findel Education is currently operating in line with our guidance for the full year," the company said.

The group's sales from continuing operations in the 17 weeks since the half-year are up 0.5%, with product sales for Express Gifts up 0.8% in the same period and up 1.3% for the financial year as a whole.

Financial services revenues have maintained a stronger rate of growth, increasing 6.4% since the half year and 6.7% for the year as a whole, with bad debt rates continuing to improve.

Findel Education saw a continuing reduction in its rate of sales decline in this relatively quiet period in its year.

At 10:16am: (LON:FDL) Findel PLC share price was -6p at 186p

Story provided by StockMarketWire.com

Related Company: FDL

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