RNS Number : 7966V Findel PLC 26 July 2018 26 July 2018 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 This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit . END TSTUVSBRWWABUAR
Findel released a trading statement ahead of its AGM on 26 July stating that the company has made a strong start to the year with total revenue up by ~11%. Express Gifts grew by ~8.5% during the 16 week period to 20 July 2018 while Hope Education saw revenues stabilise, increasing its customer base for the first time in several years.