STU Studio Retail Group Plc

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RNS Number : 6388G

Findel PLC

25 July 2019

25 July 2019

Findel plc ("Findel" or "the Group")

Annual General Meeting and Trading Statement

Findel, the digital-first 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 19 July 2019.

The Group has made a solid start to the year and our guidance for the full year remains unchanged.

Studio, the Group's largest business, grew revenue by c.3% in this relatively quiet period against a strong comparator from prior year (up c.11% in Q1 against a full-year outturn of 8%) with recent weeks showing significantly stronger levels of growth. The rollout of new technology enhancements ahead of the peak trading period, such as the Studio app and cash at point of sale payment options are on track. Its value proposition continues to prove attractive to customers.

Education has seen a good start to its peak back-to-school season, driven by further increases in online ordering levels and broader use of digital tools to help schools save time and money.

Enquiries

Findel plc

Stuart Caldwell

Phil Maudsley

0161 303 3465

Tulchan Communications LLP

Will Smith

020 7353 4200

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