2nd Jul 2007 07:01
Findel PLC02 July 2007 2nd July 2007 Findel plc ("Findel" or "the Company") AGM Trading Update Current Trading Trading in the first three months of the financial year continues to progress inline with the Group's expectations. In the first 13 weeks of the current year,Group sales have increased by 35% against the comparable period last year. Like for like product sales in the home shopping division increased by 12%against the same period last year, with total sales growing by 8%. Earlyrecruitment is proceeding to plan and we continue to see a strong performancefrom the internet. Overall divisional internet sales accounted for over 50% ofall sales in the period. Total home shopping division sales for the first threemonths are 68% ahead of last year. Sales in the Educational Supplies division are some 7% ahead of the same periodlast year. We believe that our refreshed product range, improved service andenhanced marketing are enabling us to grow our business in what remains arelatively flat market. However we are seeing signs of increasing Governmentpressure on schools to spend the net cash surpluses built up during the switchto the new budgetary regime last year. Sales in NRS, our Healthcare business grew by 8% in the period. NRS is startingto benefit from the recently introduced ICON system with visible operationalefficiencies. Board Changes As announced in May, John Padovan has not offered himself for re election atthis year's Annual General Meeting. John has been associated with Findel forover 25 years and for the last 10 years has been a Non Executive Director. Johnleaves with our thanks for his advice and support over this long period. I am pleased to announce that Mr. Stuart McKay will be joining the Board as anindependent Non Executive Director with effect from 3rd July. Stuart has over 35years experience in stationery supplies and retailing. - Ends - For further information please contact: Patrick Jolly, Chief Executive T: +44 (0)1943 864686 David Dutton, Finance Director Findel plc Jonathon Brill/Billy Clegg/Caroline Stewart T: +44 (0)207 831 3113 Financial Dynamics This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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