Trading Update

RNS Number : 2480E

Ideal Shopping Direct PLC

17 December 2009

 



For Immediate Release

17 December 2009

Ideal Shopping

 Direct PLC

(the 'Company')

Trading Update

Ideal Shopping Direct plc, a leading operator of TV and internet shopping channels, is today providing a trading update to the market for the 47 week period to 22 November 2009. 

The market was informed in our last trading update on 23 September 2009 that the outcome for the current financial year would be largely dependant on trading in the final quarter. 

The Board is pleased to report that trading since the last statement has been ahead of internal forecasts. As a result the Board feels confident that the year end outcome will be ahead of the current consensus market forecast and that positive progress is being made towards profitability at the full year. 

There remains an important 17 days of trading for the current financial year before the final result can be confirmed. 

The Company's cash balance at 15 December 2009 was £10.9 million. The outstanding mortgage at that date was £1.6m.

The Board intends to issue a pre-close announcement on 20 January 2010. 

Commenting on trading Mike Hancox, Chief Executive said: 

"The improved trading we are announcing today is largely due to the changes we have implemented over the last year. Despite the challenging economic environment, we remain confident that our ongoing strategic initiatives will ensure the Company continues to grow throughout 2010." 

For further information please contact:

Paul Wright, Chairman
Mike Hancox, Chief Executive
Ian Jebson, Finance Director
Ideal Shopping Direct Plc	[phone]
Simon Bennett
Ewan Leggat, Laura Littley
Fairfax IS PLC	[phone]
Richard Darby, Nicola Cronk, Miranda Higham
Buchanan Communications	[phone]

 

END

 

 

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