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Premier Direct

  • BY: Andrew Hore |
  • POSTED: 15/10/2007 |

Shopping-at-work company Premier Direct appears to have stabilised its business and it reported a profit for the year to July 2007. 

Revenues dipped from £25.5m to £21.2m to July 2007. A loss of £3m has been turned into a £537,000 profit. Admin costs and exceptional charges have both been reduced. There are a further £500,000 of cost savings to come. Premier even made a profit in the much quieter second half of the year. Net debt is £6.1m. An expected tax rebate will help to reduce the debt this year.

Premier has returned to the dividend list with a 1p a share final payment.

There was an 11% improvement in sales per call. Flooding and a warm Easter meant that the distributors didn’t make as many calls. That meant that there was a 5% increase in sales per distributor. There are now 540 distributors for the core shopping-at-work business.

The Oriflame cosmetics business made a positive contribution in its first full year as part of the group. Premier is still refining the model for the Oriflame at Work which will be similar to the core business. A limited number of the Oriflame products will be offered in the workplace.

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