Multi channel retailer Findel said second half sales rose 4.5% after a stellar performance from its largest business Express Gifts over the Christmas period.
The home shopping, education supplies and healthcare markets company, said sales at Express Gifts for the 15 weeks to January 17 jumped 11.1% from the previous year, its strongest performance in four years.
The group also saw a 5.4% increase in active customer numbers over the last 12 months.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We expect this growth in both sales and customer numbers to result in the delivery of increased total cash margin and a strong operating profit performance for the year," Findel said in a statement.
Findel, which sells cleaning products brand Kleeneze, reiterated that it expects to deliver improved results in the second half from the same period a year earlier.
"Overall, we are encouraged by the progress we are making in a number of areas, building on a strong performance from our largest business, Express Gifts, in a difficult economic and retail environment. We do not anticipate this environment becoming easier. We remain focused on implementing our three year Full Potential plan," it said.
cj
-
Six out of 10 retirees who accessed a pension didn’t use Pension Wise - how does the guidance service work?Many pension savers don’t bother using the free government-backed service Pension Wise. So, how does it work, and could it be useful for you?
-
UK-EU trade deal: Britain to get a £9bn boost to the economy by 2040The government’s agreement with the EU follows on from separate deals with India and the United States. Will it breathe life into the UK economy?
