Findel recovery continues as sales rise
FINDEL, the North West home shopping, education supplies and healthcare support group, says it “remains on the path to recovery” with a near 9% rise in sales so far this financial year.
The Hyde-based group, which owns Middleton-based sports retail business Kitbag, Accrington’s Express Gifts – which is its largest business – home delivered cleaning products brand Kleeneze, plus education and healthcare divisions, maintained its belief that its second half performance will be ahead of the same period in 2012.
Express Gifts and Kitbag were the strongest performers in the 16 weeks to January 22. Express Gifts, boosted by an 8% increase in active customer numbers, delivered its best Christmas sales for five years. Since the half-year at the end of September its sales have increased by 13.3% versus the prior year.
Kitbag, which is run by former Manchester United executive Andy Anson, has seen its sales increase by 19% since the half-year, with gross margins up 2%.
Kitbag has recently won several new contracts to support online sales at top French football club Olympique Marseilles and the Tour de France. It has has also recently renewed its contract with Formula 1 for three years.
The only less than positive news was that the relaunch of Kitbag.com, its own e-tailing website has not met all targets, and this will be addressed by an increased marketing spend.
Findel said its Nottingham-based healthcare business was performing strongly, with sales since the half-year up 20%. A sale process for this division remains ongoing.
Sales in the education supplies division, which is based at Ashton-under-Lyne, are down 1.6% in what the group said is its “seasonally quiet period”.
A fall in export sales and a shortened duration of Sainsbury’s ‘Active Kids’ scheme, which is supported by Findel Education, were the major factors behind the fall in sales.
