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Premier makes first half profit

28.03.07

Workplace bookseller Premier Direct saw turnover fall to £12.5m in the six month period ended 31st January 2007, against £15.6m a year earlier. As a result its first half operating profit fell to £0.8m, from £2.6m in 2006.

The group said its return to profitability followed the losses experienced in the second half of the 2006 financial year. The business said that the fall in sales reported reflected the reduction in the number of distributors from 700 in January 2006 to around 500 by August 2006. It said that the average sales per distributor had improved by 4.5%.

Eric McClenaghan, chief executive, said: "We are pleased to confirm that the core shopping-at-work business and the Oriflame cosmetics business are continuing to trade in line with our expectations. The restructuring of our overhead base and operational structure have proved to be highly beneficial and have established a strong foundation to build upon."

Financial Premier Direct Book People

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