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Littlewoods edges back towards the black

Littlewoods Shop Direct Group cut its pre-tax losses to £17.3 million for the year to April 2006, compared with a loss of £55.5m the year before, due to lower interest payments and the disposal of its unprofitable high street business. Its delivery and home shopping arms posted losses of £49.6m, against a profit of £87m the year before.