Ideal Shopping Direct PLC
11 January 2007
Ideal Shopping Direct Plc
11 January 2007
The Board of Ideal Shopping Direct ("Ideal") today issues the following update
on trading:
Set against a mixed consumer spending background, and a later and shorter peak
in pre-Christmas orders than in previous years, Ideal's sales in the 18 weeks to
31 December 2006 grew by 3.2% on a like-for-like basis, taking full year sales
growth to 7.3%.
Gross margins have been solid, and costs have been controlled. However, with a
predominantly fixed cost base, the slower than forecast sales means that the
Board now expects profit for the year to be below the current range of market
expectations.
Looking ahead to 2007, we continue to be committed to making our content
accessible via all available mainstream channels, and, as digital TV penetration
continues to build, are pleased to announce two new developments.
Ideal has reached agreement with ntl:Telewest to extend the reach of the Ideal
World channel onto the full combined ntl:Telewest digital cable platform. Ideal
World has been broadcast on ntl cable since July 2002, and the inclusion of the
Telewest base will extend the channel's potential audience by c.1.35m households
with effect from the end of January 2007. Although it will take some time to
build a customer base from the new audience, the Board anticipates that this
agreement will result in a positive contribution in 2007.
Furthermore, with a view to the future opportunity for delivery of TV over the
internet, we have also recently signed a Memorandum of Understanding with BT,
which may lead to the inclusion of some of the Group's content on the recently
launched BT Vision platform by the end of 2007.
The Group enters 2007 with a strong market position and robust balance sheet.
The Board is confident that our ongoing business initiatives will enable Ideal
to make further sales progress in the year ahead.
The announcement of Ideal's 2006 preliminary results is scheduled for 5 March
2007.
Enquiries: Ideal Shopping Direct Plc Tel: 08700 780 704
Jim Hodkinson, Chairman
Andrew Fryatt, CEO
Mike Camp, Finance Director
ReputationInc Tel: 020 7758 2800
Tom Wyatt
Teather & Greenwood Tel: 020 7426 9000
Jeff Keating
Fred Walsh
This information is provided by RNS
The company news service from the London Stock Exchange
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