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Home shopping sales soar at Findel

Findel's home shopping division saw sales growth of 9% for the six months to September 30.

The home shopping division which includes, Findel Direct, sportswear retailer Kitbag and Express Gifts which sells leisurewear, saw a like-for-like sales increase in the credit business of 11% for the six month period. More than 50% of sales at the division came via the internet.

Group sales at Findel were 32% with all divisions including its education and healthcare arm contributing to the rise.

The company said that following the completion of a strategic review it would not demerge its home shopping and educational suppliers divisions. In a statement the company said: "Both the home shopping and educational suppliers divisions are operating well within the existing group structure and the board does not believe that in the current markets their performance or shaeholder value would be enhanced by adopting a revised corporate structure."

Separately, Findel has appointed Chris Hinton as group finance director. He joins from Lorien and replaces David Dutton, who retired today after 21 years at the company.

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