Dream tops target as sales soar

DREAM Direct, which sells family computer software by mail order, reported a maiden loss of £991,000, down from £1.47m last time, and said current trading was in line with expectations.

The company, which came to the Alternative Investment Market in May after reversing into the former farming business Willisham, said it beat its growth target for the year with a 119% increase in sales to £3.75m.

Its database of customers more than doubled to 175,000. Since the March year-end, another 30,000 customers had been recruited. The level of repeat business - a key indicator for Dream Direct - grew by 81% and now represents 38% of all orders.

Chief executive Robert Colquhoun said the loss in the current year would be substantially reduced, alongside a much lower rate of spending. Cash at the end of June stood at £1.3m.