Interims show FDL continuing to perform strongly, especially when measured against the tough retail backdrop. Of particular note is 12% product sales growth at EGL over the last 10 weeks. This, alongside better than expected Financial Services growth, a stable debtor book, and positive KPIs at Education, puts the group well on track to deliver FY expectations and further reduce net bank debt (gearing will be <0.9x by Mar19). While YoY headlines are distorted by comps and IFRS restatements, the m ....
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Hitting the spot as digital first value retailer
- Published:
28 Nov 2018 -
Author:
Matthew McEachran -
Pages:
3
Interims show FDL continuing to perform strongly, especially when measured against the tough retail backdrop. Of particular note is 12% product sales growth at EGL over the last 10 weeks. This, alongside better than expected Financial Services growth, a stable debtor book, and positive KPIs at Education, puts the group well on track to deliver FY expectations and further reduce net bank debt (gearing will be <0.9x by Mar19). While YoY headlines are distorted by comps and IFRS restatements, the m ....