AGM Trading Update

Ideal Shopping Direct PLC 01 May 2007 Embargoed until 12.00 p.m. 1 May 2007 Ideal Shopping Direct Plc ("Ideal") 1 May 2007 AGM Trading Update At its Annual General Meeting today Jim Hodkinson, Chairman, will give the following update on Ideal's trading performance for the first 16 weeks of 2007: "Last year's renegotiation of the Freeview contract, which extended our presence on this fast expanding platform until 2018, represented a major strategic commitment for Ideal. Whilst the cost impact in 2007 is significant, our performance so far this year is helping us to absorb the short-term negative impact of this. The strong trading reported in our 2006 preliminary results announcement in March has continued to produce encouraging results and, after 16 weeks of trading, our 2007 like for like sales are ahead by 16%. Like for like gross cash margin also increased but reflected the more pro-active trading proposition for Ideal World and was 13% ahead of the same period last year. These comparatives exclude results from Superstore, which was acquired in June last year, the Telewest cable platform on which we started broadcasting in January this year and Jewellery Vault, which closed last year. Superstore has had a successful start to the year. Shipments to Wilkinsons, our biggest account win, have started and the business has a strong forward order book. April also saw the first deliveries to independent retailers following the launch of our Create & Craft wholesale proposition in February. To date, over 350 retailers have registered to become customers and our offer continues to attract strong interest in the trade. Ideal's online business continues to show healthy growth. The Ideal World online offer has been strengthened and expanded, and the Create & Craft website continues to benefit from the success of the Create & Craft Club, which now has over 11,000 members. The company's total online sales in the first 16 weeks of 2007 are up 45% on the same period last year. 2007 has started well and the Board has confidence in the strength of Ideal's strategic positioning in the TV and online shopping markets." Enquiries: Ideal Shopping Direct Plc Tel: 08700 780 704 Jim Hodkinson, Chairman Andrew Fryatt, CEO Mike Camp, Finance Director Reputation Inc Tel: 020 7758 2800 Tom Wyatt This information is provided by RNS The company news service from the London Stock Exchange
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