EBITDA at Shop Direct Group soared 130 per cent to £60.9 million last year.
Group turnover rose 2.6 per cent to£1.78 billion in the 53 weeks to April 30, while online sales climbed 31 per cent - the retailer's first sales growth in over a decade.
Current trading continued to be positive as sales advanced 2.2 per cent in the 26 weeks to the end of October.
Online sales are now account for well above 40 per cent of its total and the group said it was well on track to meet its target of 70 per of sales from online by 2010/11.
Chief executive Mark Newton-Jones said: “We are please but we have a lot to do, we are only part way through the turnaround. This has been a story of online growth and modernising the offer.”
He added that despite difficult trading conditions the business is “were we wanted it to be” when it embarked upon the merger of GUS Home Shopping with Littlewoods Home Shopping three years ago.
It said that it had benefitted significantly from its£20 million investment in TV and print advertising as well as a stronger focus on customer service.
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