Findel which comprises Express Gifts and an educational products division has posted annual revenues of £479 million for the year to 30 March 2018. This represents an increase of 4.8 per cent which most of the growth coming from Express Gifts which attracted 200,000 new customers and sales of £285.1 million and clothing sales up by 14.2 per cent. Online ordering volumes grew to represent 68 per cent of Express Gift’s sales with more than 84 per cent of new customers placing their first orders online.
In its educational products division sales fell by 6.2 per cent on a like-for-like basis but its adjusted profit before tax was up by 21 per cent to £26.8 million due to cost base reductions and the division had also seen growth in online ordering
Phil Maudsley, group chief executive, commented: “This has been a year of good sales growth and improved profitability through our focus on delivering great-value products to our customers across all channels. This year has also seen significant progress against our strategic objectives and both businesses continue to transform their digital sales offering.”
Share