Ideal Shopping Direct, the home shopping group, reported a pre-tax loss for the half-year but said a strategic review had helped stabilise the business and move it closer to profitability.
The retailer, which broadcasts on platforms including Freeview and Sky, reported a loss before tax after exceptional items of £1.2m, unchanged from a year earlier, on flat sales of £47.4m.
In November last year Ideal appointed a new chief executive,Mike Hancox, and later launched a strategic review including a plan to improve its online shopping service.
Ideal Shopping Direct chairman, Paul Wright, said: “During the first half we have undertaken a major strategic review and we are pleased that a number of remedial actions have been undertaken to stabilise the business.“We are optimistic that we now have a solid platform from which to drive top-line growth and restore profitability. Current trading in the second half is in line with management expectations with the critical last quarter performance yet to unfold.”In April, Ideal Shopping posted a full-year loss of £13m, including exceptional charges of £9m.