Ideal Shopping Direct sales rocket

In a pre-close trading update, Ideal said turnover rose 27.7 per cent, taking full-year sales to£97 million, which was a 14.8 per cent like-for-like uplift. Profit will be in line with market expectations, according to the retailer.

Sales at Ideal were driven by a combination of underlying productivity improvements and a strong promotional programme, although margins were maintained at the same level as the previous year.

In the second half of the year, 206,000 customers were added, taking the total number of new shoppers for the full year to 380,000, a 26 per cent rise.

Ideal Shopping Direct chief executive Andrew Fryatt said: “We are pleased that, despite the more challenging market background, we have been able to demonstrate strong sales growth in the second half and for the year as a whole, while managing our working capital tightly.”

He added: “Our underlying profit, if you exclude the payment to be on Freeview, will be hugely up. I think we’re in good shape.”

Ideal Shopping Direct has secured the right to be on Freeview until 2018, subject to an annual payment.

The retailer's preliminary results will be announced on March 4.