RNS Number : 5672B
Findel PLC
19 August 2008
19 August 2008
Findel plc ('the Group')
Interim Management Statement and Trading Update
The Board of Findel plc, one of the country's leading Home Shopping and Educational
Supplies businesses, today releases the following
Interim Management Statement.
Group sales to 15th August 2008 were 2% ahead of the same period last year.
In what is traditionally a seasonally quiet period our Home Shopping division has
continued to make progress, with sales from both
credit and cash with order businesses 3% ahead of last year. Bad debt rates have continued to
fall from their peak in March and are in line
with our expectations.
The Educational Supplies division had a relatively quiet start to the year and whilst
sales in the period are slightly behind last year,
sales demand for the year to date has now moved to 2% ahead of last year benefiting from
strong export orders.
In the Healthcare division sales in the first 19 weeks of the year were 16% ahead of the
same period last year.
The Group*s associate, The Webb Group Limited is trading successfully in line with our
expectations and has repaid £8m of its loan from the
Group.
Outlook
In the current economic environment the focus for the Group remains on the efficient
management of our business. The Group is trading
well and the Board looks forward to a satisfactory outcome to the year.
- Ends -
For further information, please contact:
Findel plc Keith T: +44 (0)1943
Chapman, ChairmanPatrick Jolly, Chief ExecutiveChris 864686
Hinton, Finance Director
Financial Dynamics T: +44 (0)207 831
Jonathon Brill 3113
Billy Clegg
Caroline Stewart
This information is provided by RNS
The company news service from the London Stock Exchange
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