AGM Trading Statement

26 July 2018

Findel plc ("Findel" or "the Group")

Annual General Meeting and Trading Statement

Findel, the online value retailer, will hold its Annual General Meeting at 2pm today. Ahead of that meeting the board gives the following update on trading for the 16-week period to 20 July 2018.

The Group has made a strong start to the year. Both businesses traded in line with expectations with total revenue up by c.8.5%.

Express Gifts, the Group's largest business, grew revenue by c.11% in the period driven by customer recruitment and, on an annualised basis, online ordering levels rose from 68% at the year end to 70%. This performance provides a strong platform ahead of the peak trading period later in the year.

Education saw its total revenue stablise in this period, with its customer base increasing for the first time in several years. Online ordering levels have also risen since the end of the year reaching 55% in recent weeks.

The Group has recently secured a one-year extension to its revolving bank facility, which will now mature on 31 December 2020.

Enquiries

Findel plc

Stuart Caldwell

Phil Maudsley

0161 303 3465

Tulchan Communications LLP

Catherine James

Will Smith

020 7353 4200