Findel expects full-year to come in substantially ahead

- Full-year to come in substantially ahead - Strong performances from Express Gifts and Findel Education- Sales for the year are five per cent higher than prior yearShares of home shopping and education materials supplier Findel rose after it said operating profit and pre-tax profit are substantially ahead of the prior year, following a bumper performance from its two main Express Gifts and Findel Education divisions. Express Gifts saw sales growth of 9.7% and a strong profit improvement in the year while Education Supplies division saw sales growth of 6.2%.In contrast trading within Kleeneze remained challenging during the year with full-year sales down 5.4% from the prior year. Similarly, Kitbag is expected to report an increased loss over prior year after full-year sales fell 4.5%.For the full-year, group profit before tax is expected to be in line with current market expectations as it maintains expectations for the coming financial year including entering its 7-9% medium term operating margin range. Group sales for the full-year are 5.0% ahead of the previous year, with sales in the second half 4.7% ahead of prior year. Group operating margin is anticipated to improve materially from 4.6% to around 6%.Overall the board continues to be very encouraged by the group's progress and the significant recovery over the last three years, it said. CJ