Shareholders with home shopping giant Findel will have to wait until the summer to find out if a mooted demerger is to take place.

Findel, which also operates educational supplies and healthcare divisions, is conducting a far reaching strategic review of the company to determine the feasibility of separating its educational supplies division into a separate business.

A busy previous six months in trading has delayed the publication of the review which is now expected in the summer.

The Burley-in-Wharfedale firm had been due to unveil the report when it posted its preliminary results, which showed record growths in profit.

The results for the year ended March 31 showed that sales increased by 11 per cent to £587 million with final share dividend up ten per cent, ending at 15.6p.

Findel made a series of high-profile acquisitions during the past 12 months and is now looking to maximise their potential.

Findel's non-home shopping divisions both enjoyed a healthy 12 months and continue to be leaders in their respective markets.

Keith Chapman, chairman of Findel, said: "Findel has gone through a period of significant change over the past year.

"We have made several strategic acquisitions of industry leading brands including Letterbox, Kitbag.com, IWOOT and Kleeneze which have transformed our home shopping division.

"We have established through these acquisitions a substantial cash with order business and have grown our internet sales into a core sales channel.

"We have strengthened our educational supplies and healthcare divisions through two key acquisitions.

"We have delivered considerable progress this year and strengthened our position in all three of our core markets. We remain excited about the year ahead and opportunities for the group.

"Currently group sales including our acquisitions are 32 per cent ahead of the equivalent six week period last year."

The company is now involved in a 12 month integration plan to bring all of the newly-acquired businesses under the company umbrella.

The internet brands in particular are to be amalgamated to form Findel Direct, a new wing which will handle all of the firm's internet commerce.

Findel is currently searching for an additional non-executive director following the departure of John Padovan.