Online orders boost for Findel
FINDEL, the home shopping and educational supplies business, today said Christmas shoppers wanting to access credit online had helped boost its performance to record levels.
The group, based in Burley-in-Wharfedale, said sales in its credit business ran further into the festive season than had been the case in previous years.
Findel said this was driven by higher demand for its online services, which were 50% ahead of the previous year, an indicator that consumers are opting for the comfort of their own homes to make orders rather than treading the high street.
In a trading update, Findel said for the 39 weeks to December 28 the group achieved record sales up 23% on the same period in 2006.
It said its Findel Direct home shopping division, which includes brands such as Letterbox, Cotswold and Confetti, had seen sales increase by 32%.
Like for like product sales in the credit business increased by 10%, with total sales in that business 8% ahead. Findel said more than 55% of sales in the credit division were now being transacted via the web.
Its educational supplies division saw sales 7% ahead of the same period last year, while its healthcare division was 12% up.
Findel said that it had recently sold its toy wholesale business, James Galt & Co, to Elmer's Products for £9m to focus on its core home shopping and educational supplies businesses.
Findel said it believed it was in a “unique position” with its home shopping business balanced by a strong and growing educational business.
TheBusinessDesk.com reported in November how Findel had reported record sales and profits during the first half of its 2007 financial year thanks to growing intenet sales, including contracts to provide online stores to Foruma 1 and the English Cricket Board.
Turnover in the six months to September 30 leapt 33% to £298.3m while pre-tax profits was £2.5m compared to a £23m loss for the same period last year.
