Findel increases its annual revenues
Findel has announced a 5.7 per cent increase in its revenues for the year to March 29th. Coming in at £506.8 million with pre-tax profits up by 33 per cent to £29.4 million, it credited the strong performance from its Studio division which saw online sales grow significantly. In its education division online sales rose to over 66 per cent from a customer base which had grown by eight per cent.
The business has said that it will change its name to Studio Retail Group having already completed a successful re-branding of Express Gifts to Studio.
Group CEO Phil Maudsley said: "We look ahead with confidence and ambition,as shown by our proposed name change to Studio Retail Group. We remain focused on our customers' needs, and our investment in digital technologies and delivering on our strategic objectives will underpin profitable growth over the medium term."