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Kleeneze Back on The Home Straight

December 2004 - Edinburgh Evening News

KLEENEZE, the home-shopping company, today said it had returned to pre-tax profitability, posting a profit of £4.3 million for the six months to October 31, reversing from a loss of £9.2m over the same period last year.

The first-half turnaround accompanied a 4.9 per cent increase in sales from existing operations to £79.3m, helped by the acquisitions of some assets from costume jewellery company Cabouchon and I Want One of Those.com.










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The group’s chief executive, William Rollason, said the company believed it would be able to meet its full-year objectives.

Mr Rollason said over the reporting period, Kleeneze had taken "significant steps" in its bid to transform the firm into the UK’s leading home shopping specialist with a number of acquisitions, including I Want One of Those, and its 50 per cent stake in a joint venture television shopping channel on Sky 659, which is to be rebranded eeZee tv.

"We are excited by the contributions these businesses will make to the group in the future," Mr Rollason said.

Swindon-based Kleeneze’s return to pre-tax profitability was helped by the disposal in July of its five per cent stake in Premier Direct Group.

Overall turnover rose to £79.3m, from £75.6m last time.

The company, whose agents distribute catalogues to more than a million homes a week, said its European division had also returned to growth, with sales per distributor continuing to increase.

"The launch of our Dutch business has been a success and we have already recruited 1500 distributors since September," the company said in a statement.

Chairman Sir Clive Thompson said: "We are excited by the contribution that our investments in internet and television shopping will make to the group. "The complementary nature of these distribution channels and our networks will significantly increase our product range as well as our market penetration and geographic coverage."

 
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 Did you know?
It requires no selling experience as the catalogues do it all for you, in fact the only time that you meet your customers is when
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 Did you know?
Kleeneze experienced 800% growth in the last 8 years and paid out more than £90 million to it's network of distributors in the last 4 years alone!

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Promoter: Kleeneze UK Ltd, Express House, Clayton Business Park, Accrington, BB5 5JY

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