Ideal Shopping Direct has swung from heavy losses to an expected profit in less than a year, spearheaded by a number of new senior appointments.
The homewares retailer said it expects to record a £5m profit in its results for the financial year to December 2019 – a pronounced swing from the £32m loss it made in the same period last year.
During this period, Ideal Shopping Direct saw a 6.5% uptick in average gross margins, while own-brand margins increased by 23%. It said it expected its pre-tax turnover to be £170m.
Ideal Shopping Direct is one of the UK’s largest multi-channel home shopping retailers, which sells to over 31 million UK customers through shopping channels on Sky, Freeview, Virgin and late-night ITV.
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