Findel losses widen

Findel's adjusted pretax loss widened for the first half, but the British home shopping and sports-kit retailer said its largest unit was on track for a very strong Christmas with current trading ahead of last year.

For the six months to 30 September, Findel reported a pretax loss before exceptional items and terminated operations of £5.6m, compared with £3.1m a year ago.

Total revenue for the period was £254.6m.

The company said a new pricing approach for its express gifts business helped it increase revenue by five per cent to £93.2m.

The company ended the period with £256.6m in net debt, down from £336.8m.