THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
The Papers
RETAIL INSIGHTS
RETAIL SOLUTIONS
• The HR Summit 2019
• AI in Retail Conference 2019
• Omnichannel Futures Conference 2020
• Future of Customer Engagement 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
United Carpets grows first half profits

Carpet and floor covering retailer United Carpets has reported increased profits in the first half of its financial year despite a “challenging” trading environment. In the… View Article

HOME & DIY

United Carpets grows first half profits

Carpet and floor covering retailer United Carpets has reported increased profits in the first half of its financial year despite a “challenging” trading environment.

In the six months to 30 September, operating profit rose by 9.1% to £636,000 while pre-tax profit climbed to £640,000 from £588,000 in the same period in the previous year.

Network sales across the group, including the value of retail sales by franchisees, grew to £27.5 million from £27.1 million previously. Revenue, which as in previous years includes marketing and rental costs incurred by the group and recharged to franchisees, was £10.2 million compared to £10.4 million in the corresponding period a year ago.

United Carpets said the reduction in sales as a result of decreased corporate store numbers had been largely offset by increased franchise commissions and marketing contributions together with growth in warehousing throughput.

On a like-for-like basis, sales edged up by 2.1% in the period.

Paul Eyre, United Carpets chief executive, said: “Notwithstanding a fairly challenging backdrop, the good momentum from last year has continued into the first half of the current financial year with trading performance proving robust.

“From a smaller store base we have largely maintained revenues and continued to improve group profitability reflecting the growing quality of the store portfolio together with the careful management of costs.”

The company said like-for-like sales for the 10 weeks since the period end to 8 December have continued to be positive and that it expects the outlook to also be positive despite a “challenging” political and economic background.

Peter Cowgill, United Carpets chairman, said: “Our markets are driven to a large extent by consumer confidence and while we have ongoing political uncertainty over Brexit, the underlying base case is satisfactory, supported by a low interest rate environment combined with a housing market that continues to function reasonably well. Consequently, this should mean that our business will continue to perform.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Customer Engagement 2020
Future of Customer Engagement 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The 11th Annual Retail Customer Engagement Conference