17th Apr 2008 07:01
Findel PLC17 April 2008 17 April 2008 Findel plc ("the Group") Business Update The Board of Findel plc, one of the country's leading Home Shopping andEducational Supplies businesses, today announces an update on its results forthe year ended 31 March 2008 following its announcement of 2 April 2008. The Board is preparing the Group results for the year ended 31 March 2008 andthese will be announced on 15 May 2008. As part of this process and in light ofthe deteriorating economic climate the Company has conducted a further review ofthe Home Shopping debt book and now estimates that the bad debt provision willbe £5m higher than had previously been anticipated. As a consequence the Boardbelieves that the Group profit before tax for the year ended 31 March 2008 willbe below its previous expectations although the Board still expects profit to bemarginally ahead of last year. The Board believes that the Group remains well positioned to make furtherprogress in the new financial year.- Ends - For further information, please contact: Findel plc T: +44 (0) 1943 864686Keith Chapman, ChairmanPatrick Jolly, Chief ExecutiveChris Hinton, Finance Director Financial Dynamics T: +44 (0) 207 831 3113Jonathon Brill/Billy Clegg/Caroline Stewart This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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