Mail order firm set to deliver with yearly result

Online value retail and education business Findel is expecting to deliver full-year results in line with market expectations.

The firm operates two divisions, namely Express Gifts that is one of the largest direct mail order businesses in the UK, primarily trading via the Studio. co.uk brand, and teaching supplies arm Findel Education. Findel said in a trading update covering the 42 weeks to 19 January that Express Gifts had a “record” Christmas sales performance, while online ordering levels in the third quarter averaged 72 per cent, up from 65 per cent in the previous year.

Turning to Findel Education, it “continues to see encouraging trends from its turnaround strategy”.

In summary, Findel said early trading in January has been “slightly slower than anticipated” but “the further strengthening of our online value retail proposition leaves us wellplaced against the current consumer backdrop. The group remains on track to deliver a full year performance in line with market expectations."