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Shop Direct posts first pre-tax profit in 10 years
30
Oct '13
Shop Direct, the UK’s leading multi-brand online retailer, with digital department stores including Very.co.uk, Littlewoods.com and isme.com, announces its full-year results for the 12-month period to 30th June 2013. In particular, the company is pleased to report pre-tax profit of £6.6 million, its first in 10 years.

Financial highlights

- Group sales up 1% to £1.69 billion (2012: £1.67 billion)

- Newer brands Very.co.uk and isme.com, the future growth drivers of the business, delivered a combined sales increase of 18%

-  Sales decrease within heritage brands Littlewoods.com and KandCo.com limited to a combined 7% and profitability maintained, as a result of effective management

- EBITDA growth of 22% to £132.5 million (2012: £108.9 million)

- Exceptional costs reduced to £8.4 million (2012: £46.2 million)

- Pre-tax profit of £6.6 million (2012: -£57.7 million)

Digital progress

- 78% of sales completed online during the year (2012: 75%) – up to 81% for Q1 2013/14

- Over a quarter (27%) of all online sales made on mobile devices (2012: 20%) – up to 38% for Q1 2013/14

- Almost half (48%) of customers now browse and shop across more than one device, with 16% using a three-way combination of desktop, tablet and mobile

- Number of catalogues distributed more than halved during the year – to 4 million from 8.2 million in 2012

Operating highlights

- Strong focus on product range development during the year, with big name brands including Lyle & Scott, Hunter, GHD and St Tropez brought on board

- Electrical and seasonal the standout category performers, driven by stellar sales of tablets, computers, small domestic appliances, gifts and beauty products

- Fearne Cotton’s successful collection for Very.co.uk expanded to include furniture and home

- Mark Wright joined Littlewoods.com as the face of own brand menswear range Goodsouls, while brand ambassador Myleene Klass added lingerie and swimwear to her clothing range

- 25.9 million parcels delivered to customers, containing 45.6 million products

- Collect+ network grew to more than 5,250 stores, increasing ease and simplicity of delivery and returns for customers.

Click here to read full results

Shop Direct

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