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17 Oct 2018 | 09:56

Findel maintains profit guidance ahead of peak Black Friday, Christmas period

Online retailer Findel said Wednesday its full-year profit expectations remained unchanged as an uptick in sales in recent weeks had helped ease slower second-quarter growth.

While growth in the second quarter was slower than the first quarter, a much stronger response from customers was seen in recent weeks ahead of the peak Black Friday and the Christmas period, the company said.

For the first 28 weeks of the year, Express Gifts, the group's largest business, grew revenue by 8%, while its Education segment continued to make 'good' progress amid an operational turnaround, the company said.

Findel also said it was nearing the end of its legacy customer redress programme, which continued to perform in line with existing provisions. 'Our expectations for full-year progress on revenue, margin and profit remain unchanged,' it added.

At 9:56am: (LON:FDL) Findel PLC share price was +6.5p at 276.5p

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