Findel reported sales of £ 94.4 m for the year ended March 25 , 2016 , down from £ 102.8 m the previous year with operating profit £ 1 m lower at £ 3.2 m . Chairman David Sugden attributed the decline to “challenging market conditions in the new financial year, with spending levels from schools remaining constrained”. While operating profits rose 0.9 % to £ 410.6 m , pre - tax profits slipped 10.6 % to £ 24.8 m . Chairman David Sugden , who is set to retire at the next annual general meeting , blamed " challenging market conditions " for the fall in revenue.​
Findel reported sales of £ 94.4 m for the year ended March 25 , 2016 , down from £ 102.8 m the previous year with operating profit £ 1 m lower at £ 3.2 m . While operating profits rose 0.9 % to £ 410.6 m , pre - tax profits slipped 10.6 % to £ 24.8 m . Chairman David Sugden , who is set to retire at the next annual general meeting , blamed " challenging market conditions " for the fall in revenue.​