Shop Direct Group, the company behind the Littlewoods and Very home shopping brands, saw EBITDA rise 182% to £96m for the year ended April 30. Total sales rose 7.4% to £1.7bn.
Shop Direct Group said online sales rose 31%, and now accounted for 49% of total group sales. It added that it remained on track to meet its 70%online sales target by the end of the financial year 2010/11.
The group’s trading over the past 20 weeks of the financial year is up 1% against the same period last year. In this period, online sales have grown by 29% and now represent 56% of total sales.
Shop Direct Group chief executive Mark Newton-Jones said: “Since the start of the new financial year in May, we have been busy re-invigorating the Littlewoods brand at home, whilst also taking it into Europe through France, Spain and Germany, as well as launching our fashion brand Very.co.uk and bringing the Woolworths and Ladybird businesses online.
“We have continued to show growth in our online performance since May but are mindful of the tough economic climate we are facing and as such we remain cautious about the outlook for the remainder of 2009 and 2010.”