2nd Apr 2008 07:01
Findel PLC02 April 2008 2 April 2008 Findel plc ("the Group") Trading Update The Board of Findel plc, one of the country's leading Home Shopping andEducational Supplies businesses, is pleased to announce a trading update for theyear ended 31 March 2008. Trading Update The Group is expected to have achieved record sales from continuing operationsof approximately £640m, an increase of 17%. All divisions have made meaningfulcontributions to growth. This sales performance concludes a successful year inwhich it is anticipated that the Group will have delivered significant earningsgrowth in line with the Board's expectations. Sales in the Home Shopping division were approximately 23% ahead of the prioryear with over 55% of such sales being transacted over the internet. Sales inthe credit business have continued to perform well and were approximately 6% upon last year. The Group's Home Shopping business now has over 2,500,000customers. The Educational Supplies division continues to achieve growth despite a flatmarket overall, with sales for the year approximately 6% ahead of the prioryear. In the Healthcare division, sales were approximately 15% ahead of the prioryear, a notable performance given the Government's ongoing review of the way inwhich hospital discharge services are to be provided. Outlook The Board continues to believe Findel is in a unique position with its highlyefficient home shopping business balanced by a strong and growing EducationalSupplies division. The Board is confident that the Group is well positioned to grow and makefurther good progress in the new financial year. Findel plc will announce its preliminary results for the year on Thursday 15 May2008.- 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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