19 August 2008

Findel plc ('the Group')

Interim Management Statement and Trading Update

The Board of Findel plc, one of the country's leading Home Shopping and Educational Supplies businesses, today releases the following Interim Management Statement.

Group sales to 15th August 2008 were 2% ahead of the same period last year.

In what is traditionally a seasonally quiet period our Home Shopping division has continued to make progress, with sales from both credit and cash with order businesses 3% ahead of last year.  Bad debt rates have continued to fall from their peak in March and are in line with our expectations. 

The Educational Supplies division had a relatively quiet start to the year and whilst sales in the period are slightly behind last year, sales demand for the year to date has now moved to 2% ahead of last year benefiting from strong export orders. 

In the Healthcare division sales in the first 19 weeks of the year were 16% ahead of the same period last year. 

Outlook

In the current economic environment the focus for the Group remains on the efficient management of our business. The Group is trading well and the Board looks forward to a satisfactory outcome to the year.

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For further information, please contact:

T: +44 (0)1943 864686

Financial Dynamics                
Jonathon Brill
Billy Clegg
Caroline Stewart                                                                  

T: +44 (0)207 831 3113       

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