Home shopping group Findel has reported a total pre-tax profit of £5.7 million in the six months to September 30, up from £2.5 million the year before.
Sales at its home shopping business were down 1 per cent to£171.3 million for the period.
The group said it was on track to reduce borrowings by£100 million by March 31, 2011.
Findel chairman Keith Chapman said: “The economic environment in which we are operating is difficult and appears set to remain so in the medium term. Nevertheless, I am pleased with the way in which each of our divisions are proactively addressing their market conditions and the opportunities they present.”
He added: “This robust approach coupled with the cash generation programme we have implemented will result in a stronger and more efficient group.”
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