Flying Brands Share News (FBDU)

Home shopping firm Flying Brands said it expects to exceed full year market forecasts after it cut costs.Sales from continuing operations fell 27% to £6.6m in the three months to 1 January.Flying Flowers' sales decreased to £3.58m from £5.29m in 2008, in line with market expectations. The figures reflected the impact of the loss of LVCR and the decision to focus on more profitable customers, the group explained.Chief executive Stephen Cook commented, "The operational changes we have made have substantially reduced the risk profile of the business and we hope to be able to build on this good start to Flying Flowers' repositioning in 2010." "Our cost base has been realigned with the current size of the group and we will focus efforts on growing revenue, customer numbers and profits in our core brands in 2010."