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Sales continued to rise at home shopping retailer Express Gifts — part of the Findel PLC group — in the year to end March, despite a focus on tightening up its credit criteria.


Product sales at Express Gifts climbed 6.3 per cent to £219.8m with total revenue — including interest on customers’ credit accounts plus services and fees — rising 4.7 per cent to £301.7m. Express Gifts had grown group revenue by 9.6 per cent in the previous year.


Findel’s Express Gifts division runs websites and mail-order brands such as Studio and Ace, selling a wide variety of goods with an extensive value-driven home furnishings offer, including upholstery, cabinet and beds.


Findel said improving the credit scoring process was helping outcomes for customers, but also its own bottom line as well as reducing bad debt. Operating profits were up 9 per cent to £33.5m.