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Profits and sales drop at Findel
Home shopping and education supplies group Findel reported a fall in profits yesterday. The dynamic multi channel retailer saw a 2.6 per cent drop in sales to £532.6m from £547m in the year to 1 April. Findel was hit by the discovery of accounting irregularities at the education supplies division followed by an emergency debt refinancing in July, despite a fall in profits Findel has said it was confident it had established a secure platform for future growth.