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Findel - Educational side recovers strongly

May 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares moved up sharply after Findel issued a preclose statement following its 31 March year end.  Findel said that sales in the year to 31 March were up 14% on the previous year and over £400m for the first time.  This has been driven by a  strong performance from the mail order operations and a second half bounce back at the educational supplies division.Mail order sales have shown impressive growth throughout the year with sales growth of 22% driven in particular by strong performances in electrical, bedding, textile and branded clothing ranges (although remember most of the money is made from subprime lending). Sales via the internet increased by 79% (and are now 12% of divisional sales) and the recent ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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