Findel still on the acquisition trail

A trading update from Findel revealed that the group achieved a
sales rise of 10 per cent to £580 million 31 March 2007.
Like for like sales were broadly in line with last year. It also
announced two acquisitions. Philograph Publications Ltd Group
which has a UK operation trading as Philip & Tacey Ltd, was
bought for £1.3m cash. The second acquisition, Synergy
Managed Equipment Services Ltd was for £1.4m.

The group says its prospects are encouraging stating that
“Home Shopping is a very different business to the one it
was 12 months ago.” It expects over 40 per cent of the
division’s sales to be transacted online this year. It is also
confident in its Educational Supplies business and feels that
Healthcare is now well positioned to take advantage of a
potentially fast growing market. There was no news on the muted
demerger which has been delayed due to “high levels of


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