Ideal Shopping returns to profit as sales continue to improve

In its full year to January 3 Ideal said that year-on-year sales were ahead 9.2%, with an 18.5% lift in its second half. It said that improved trading came from the implementation of a number of management initiatives, marketing and product selection.

Ideal chief executive Mike Hancox said: “I am satisfied with the full year trading performance of the business and believe that we enter 2010 with a solid platform for growth in the coming year. We have implemented a wide range of initiatives to improve our customer service with new strategies covering customer contact, logistics, product selection, marketing and web initiatives. These new strategies are being rewarded by a significant improvement in the customer experience, which is reflected in the increased sales and the return to profitability in 2009.” 

Ideal’s cash balance on January 3 stood at £13.4m; this includes a repayment of its mortgage of £1.6m on December 16.