Ideal Shopping Direct back in the black after changes at the top

Martin Purcell and Jamie Martin

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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