3rd Jul 2008 13:00
3 July 2008
Findel plc ('Findel' or 'the Company')
AGM Statement and Trading Update
At the Company's Annual General Meeting to be held today, Keith Chapman, Executive Chairman of Findel, will make the following statement:
The first three months of the financial year are traditionally a quiet period for the Group. However despite current market conditions, I am pleased to report that overall Group sales are 3% ahead of the same period last year and all our divisions have contributed to this increase. Since the start of the new financial year, collection rates in our Home Shopping division have followed a similar pattern to the previous year; bad debt rates during April and May have improved significantly and are now broadly in line with those for last year.
The Company will provide a further update as part of its Interim Management Statement which is due to be issued on or before 19 August 2008.
The Board is also pleased to announce the appointment of Kaupthing Singer and Friedlander Capital Markets Limited as joint broker with Numis Securities Limited with immediate effect.
- Ends -
For further information please contact:
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Findel plc
Keith Chapman, Chairman
Patrick Jolly, Chief Executive
Chris Hinton, Finance Director
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T: +44 (0) 1943 864686
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Financial Dynamics
Jonathon Brill/ Billy Clegg/ Caroline Stewart
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T: +44 (0) 207 831 3113
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