Findel Share News (FDL)

Home shopping group Findel has decided not to sell its troubled Kitbag sports website, giving the shares a kick despite expectations of a disposal.After completing the strategic review of Kitbag it had begun back in October, executive chairman David Sugden said the board felt it was "in the best interests of all stakeholders" to keep Kitbag within the group."Kitbag has delivered a substantial recovery in its underlying operations and contract base after the renegotiation of legacy contracts, and has started to capitalise on the significant international growth opportunities open to the business," he said."As part of Findel we are confident that Kitbag will continue to build on the recovery to date."Although broker N+1 Singer said that given the market's expectations of a disposal the shares might weaken, the stock actually rose 2.1% to 225p by 11:30 on Friday."Kitbag has been substantially enhanced over the last three years, is starting to capitalise on the significant international growth opportunities available, and is at the inflection point from loss to profit."