- Full-year underlying pre-tax profits jump 43.6% to £150.4m
- Sales up 4.3% to £1.86bn
- Very.co.uk sales jump 15.9% to £1.12bn
Shop Direct reported a jump in underlying full-year pre-tax profits and a rise in sales as the etailer reaped the benefits of technology investments.
In the 53 weeks to June 30, pre-tax profits rose 43.6% to £150.4m, the etailer said today. Sales increased 4.3% to £1.86bn.
The performance was driven by a 15.9% jump in sales at Shop Direct’s online department store Very.co.uk, which has become a £1bn-plus brand.
Shop Direct also flagged up that 62% of online sales are now coming from mobile devices, up from 56% last year.
The etailer, which also owns Littlewoods, was also boosted in the year by Black Friday – its busiest-ever trading day – and a “record-breaking” Christmas.
Shop Direct, which stopped production of the Littlewoods catalogue last year, said it is also “continuing to invest in and test new disruptive technology to further personalise the user experience for customers”.
Chief executive Alex Baldock said: “This was the year our investments in technology really started to pay off. We’ve made big strides in m-commerce, big data and personalisation. But there’s a lot more to play for in these areas.”
He added: “We continue to gain market share profitably, and are on course for another record year of sales and profit.”