United Carpets Profits Fall While Like-For-Likes Rise

Retail Week:

United Carpets’ pre-tax profit fell from £1.73m to £1.36m in the year to March 31, although the figure came in ahead of expectations.

Like-for-like sales grew 1.2 per cent, while revenues jumped 26.5 per cent to £26.8m.

Network sales, which include retail sales in United Carpets’ franchises, increased 10.1 per cent to £65.1m.

Within the like-for-like sales performance floorings rose 0.5 per cent while beds increased by 9.2 per cent.

In the 16 weeks since year end, floorings declined 4 per cent against “relatively tough comparatives”. United Carpets said that “while this is disappointing it represents above average performance for our sector”.

Beds like-for-likes increased 8.2 per cent in the 16 week period.

Chief executive Paul Eyre said: “We are pleased to be able to report on a solid trading performance, in what are very challenging market conditions. We continue to benefit from our focus on offering good quality products at affordable prices and the advantages of operating a franchise structure.

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