Ideal Shopping in profit surge

TV CHANNEL Ideal Shopping posted a first half pre-tax profit compared to a loss the year before with trading in the second half in line with management expectations.

For the 26 weeks ended 4 July 2010 pre-tax profit was £2.89m compared to a loss of £1.2m a year earlier. Revenue for the period increased to £56.58m from £47.42m. Like-for-like sales jumped by 11.4 per cent to £52.8m. Chairman Paul Wright said: “We are optimistic for the second half year. Trading in the first eight weeks of the second half is positive.”