Trading Update

RNS Number : 5872N

Ideal Shopping Direct PLC

15 June 2010

 



For immediate release

15 June 2010

Ideal Shopping Direct Plc

("Ideal Shopping Direct" or the "Company")

Trading Update

For the 21 weeks ended 30 May 2010

Further to the trading update provided on 23 March 2010 at the preliminary results announcement, Ideal Shopping Direct today announces strong trading for the 21 weeks ending 30 May 2010.

2010 continues to be extremely encouraging with total sales, including Lead The Good Life Ltd (LTGL) which was acquired on 18 January 2010, up 17.9% over the same period of 2009. Excluding LTGL sales, Group sales have increased by 10.5% over the same period in 2009. We expect to report a substantial profit in the first half of 2010, which is a major improvement on the £0.9 million trading loss incurred during the first half of 2009.

The Board feels comfortable that they can reintroduce a sustainable dividend policy when the interim results are announced in September.

Chief executive Mike Hancox commented,

"We are pleased that we continue to grow our business despite a challenging retail environment. Given the operational gearing of the Company, we expect profit in the first half year to be substantially better than in 2009. Whilst we remain cautious over consumer spending patterns in the second half, we are confident that Company strategy will continue to deliver a robust performance through the second half year".

For further information please contact:

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

Notes to editors:

Ideal Shopping Direct is one of the UK's leading home shopping retailers, selling via its TV channels and the internet. Its main channel, Ideal World, is broadcast on the rapidly expanding Freeview platform as well as on Sky, Virgin Media and Freesat. It has three other channels on Sky, 'Ideal Extra', 'Ideal & More' and 'Create and Craft'. 'Create and Craft' is also on  Freeview and Freesat.

'Ideal World' offers a broad selection of general merchandise with six product categories, led by Home, Leisure and Craft along with Fashion, Health & Beauty and Jewellery. 'Ideal Extra' focuses on Gardening and related outdoor product, Home and Leisure including selected Ideal World repeats. 'Ideal & More' repeats selected shows of Ideal World. 'Create and Craft' is a niche channel selling craft products.

Ideal's transactional websites www.idealworld.tv and www.createandcraft.tv carry a live web stream of the TV broadcasts and offer a wide selection of products sold on TV as well as web-only deals. www.gardenbargains.com offers a range of gardening products.

For more information see www.idealshoppingdirect.co.uk

 

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