TV shopping business surges ahead
Sales at Ideal Shopping Direct leapt 53 per cent to£37 million for the 26 weeks to June 30 compared with the same period last year, with pre-tax profits up 435 per cent to£3.5 million.

Bolstering the management, chief operating officer Andrew Fryatt becomes chief executive with immediate effect, Paul Wright moves from the role of chief executive to deputy chairman to concentrate on new business development, and Mike Camp joins from the RAC as finance director.

Turnover benefited from the company's first annual Freeview TV contribution, which completed its first year on April 23. Like-for-like sales increased and the business added a fourth TV shopping channel - Jewellery Vault - on July 1.

The company also operates the Ideal World, Create & Craft, and Ideal Vitality cable and satellite channels.

Ideal chairman Jim Hodkinson said: 'This excellent performance underlines the considerable benefits of the significant growth generated over the past year, but it also reflects our efforts to improve the business and its management at every level. Trading in the first eight weeks of the second half to date has continued strongly, despite a challenging and highly competitive trading environment. The board looks forward to reporting further good progress for the full year.'

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