No demerger, says Findel

Findel has told the City it will not demerge its home shopping
and educational supplies divisions. It said in a statement that
both businesses are operating well within the existing group
structure, and the company does not believe that “in the
current markets their performance or shareholder value”
would be enhanced by demerging them.

Sales in the six months to 30th September were up 32 percent from
the comparable period of last year, with all divisions
contributing to the increase. Home shopping sales, along with the
credit business, posted a sales rise of 11 percent. Even in the
“relatively flat” educational supplies market, the
division saw sales ahead 7 percent on the same period last year.
Healthcare sales rose 4 percent.


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