Shop Direct toasts sales rise

RETAIL giant Shop Direct Group  has revealed its first increase in sales in a decade, with turnover rising 2.6% to £1.78bn.

The home shopping group, which has its headquarters in Speke, Liverpool and its national distribution centre in Shaw near Oldham, is owned by the reclusive billionaire Barclay Brothers.

The company did not disclose its profit and losses or group debt, but declared a 130% hike in EBITDA – earnings before interest, tax, depreciation or amortisiation – to  £60.9m in the year tio April 30.

Internet sales growth was a healthy 31%  – mirroring that displayed by listed Manchester-based rival N Brown.

The company, created by the merger of home shopping titans Littlewoods and GUS Home Shopping three years ago, said current trading was positive, with sales up 2.2% in the 26 weeks to October 31.

Chief executive Mark Newton-Jones said:“We are three years into our five year transformation programme and are pleased with progress to date, whilst recognising there is still much to do.

“We are particularly encouraged that, even in this challenging trading environment, we have seen sales growth. As the economic climate gets tougher, we are well placed with strong online growth and a broad spectrum of products creating a one stop shop for our customers.”