Excellent Results - a nice surprise on the dividend - have added a few more, It looks as though recent aquisitions are taking effect!

dikytree.

Findel (LSE: FDL.L - news) falls 7.3 percent as the home shopping group's broadly in-line trading update leads Seymour Pierce to reduce its full-year 2013 pre-tax profit forecast to 14.5 million pounds from 16.0 million pounds, with similar revisions also made to its subsequent year forecasts.

"Management has made encouraging progress in improving performance of the business but before we consider an upgrade to our recommendation, we need to see a structural decline in net debt, forecast at circa 230 million pounds at end of March 2013. In addition, most importantly, the stock has to look more attractive on a sum of the parts basis," Seymour Pierce says in a note, retaining its "hold" rating on Findel.