Findel: Trading statement to show continuation of recovery?

Findel (LON:FDL) (9p and now 3% of JIC portfolio) will issue a Q3 trading statement next Wednesday for the 16 week period to the 18th January. With its half year results issued on 27th November it said that the 8 weeks to the 23rd November had seen sales up 7.7% on the prior year. I am taking the view that it will have had a reasonably strong Xmas period given the trends that have been seen in retail sales generally over the period; namely an increase in online sales.

On consensus earnings forecasts the shares are valued at 10x March 2013 earnings, falling to 7.1x March 2014 and only 6x March 2015. If the recovery in the business that has become increasingly evident in recent months continues there is, in my view scope for the shares to record considerable gains from here. When I bought the intial holding on 29th November at 7.1p I only bought a 1% holding. I have increased that to 3% today. (see transaction history)

I have funded the increase by realising profits on two of the larger holdings in the portfolio; easyJet reduced to 5% and Quindell reduced to 6%.

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