IQ-AI Regulatory News (IQAI)

23 Apr 2008 10:19

Flying Brands Limited23 April 2008 23 April 2008 FLYING BRANDS LIMITED AGM Trading Statement Flying Brands Limited ("the Group"), the Jersey based home shopping group ispleased to announce that all the tabled resolutions were passed at its AGM,held in Jersey earlier today. Commenting on the sixteen weeks of trading to 18 April 2008, Tim Trotter,Chairman, said: "The Group reported at its final results in March that it had made a mixed startto the current financial year. Since 18 March overall trading has been in line with management expectations.Group sales to 18 April are 1% down compared with last year. In the Gifts Division, Flying Flowers sales declined 10% compared with the sameperiod last year, with Mother's Day being 16% down on last year. GreetingsDirect sales are 3% down on last year due mostly to the reduction in the UK and Ireland business as a result of lower than expected response rates to itsJanuary mailing campaign and an increase in the attrition rate from existingcustomers. The Garden Division has performed consistently during the period with sales 4%up on last year. The Entertainment Division's sales are 3% down on last year. Board Changes The process of recruiting a new Chief Executive to replace Mark Dugdale isproceeding well and we expect to announce the appointment shortly. Investment Programme The Group is investing £2m in 2008 to drive the development of the business andestablish a stronger base for consistent growth in the future. So far the Grouphas almost completed its investment in a new web platform and the plannedexpansion of the Greetings Direct business into the USA is also under way." Dividends and Notice of Interim Results Date The final dividend (3.00 pence per share) will be paid on 1 May 2008 toshareholders who were on the register as at 4 April 2008. The company willannounce interim results on 1 August 2008. For further information, please contact: Flying Brands Limited 0844 884 6465Tim Trotter, ChairmanGraham Norton, Finance Director Smithfield Consultants 020 7360 4900John KielyGeorge Hudson Notes to editors Jersey based Flying Brands Limited (LSE: FBDU) is a multi brand and multichannel home shopping specialist. Founded in 1981, it was admitted to theOfficial List of the London Stock Exchange in 1993. The Group operates thefollowing divisions: • Gifts (Flying Flowers, the UK's largest flowers by post brand, despatching nearly one million bouquets a year; Greetings Direct, the UK's only continuity greeting cards business) • Garden (Gardening Direct, one of the UK's largest mail order bedding plants and gardening products operations; Garden Bird Supplies, a leading provider of food and accessories for birds and other wildlife; Sarah Raven's Kitchen & Garden, high quality plants and general hardware that are hard to find elsewhere) • Entertainment (Listen2, the leading mail order audio books, nostalgic music, DVD and video publisher and distributor; Benham, the first day cover stamps and coins collectables specialist) More information can be found at: www.flyingbrands.com This information is provided by RNS The company news service from the London Stock Exchange