THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
United Carpets reports 'modest improvement' in full year results

Flooring retailer United Carpets has reported an increase in pre-tax profit and like-for-like sales in its full year results.

HOME & DIY

United Carpets reports 'modest improvement' in full year results

Flooring retailer United Carpets has reported an increase in pre-tax profit and like-for-like sales in its full year results.

In the year to 31 March, profit rose to £1.53 million from £1.49 million in the prior year. Meanwhile, like-for-like sales grew by 1.3%.

Revenue, which includes marketing and rental costs incurred by the company and recharged to franchisees, was £21.2 million compared to £21.4 million in the previous year. The reduction reflects a decrease in the average number of corporate stores during the year compared to the prior year, which was largely offset by increased activity through United Carpets’ warehousing division.

Paul Eyre, United Carpets chief executive, said: "These results show a modest improvement on the prior year together with a positive like-for-like performance up 1.3%. This is a creditable result against a backdrop of increasing economic uncertainty which has tended to damage consumer confidence. We have been helped by the resilience of our franchise model together with the strength of our core customer offering of providing great quality products at attractive price points."

By the end of March 2017, the company had 57 stores of which 50 were franchised and seven were corporate.

The company said like-for-like sales for the 15 weeks since the period end to 13 July have been "slightly positive," despite a significant increase in marketing activity.

Peter Cowgill, United Carpets chairman, said: "The market environment continues to be unsettled. The recent general election has done little to change that and the process of Brexit is likely to create ongoing fluctuations in consumer confidence.

"This adds a note of caution to the board's outlook for the business but nevertheless, we expect the group to continue to develop and pursue expansion opportunities on a selective basis and retain its core focus on its customer offering of providing great quality products at attractive price points."

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 2018
The HR Summit 2018
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
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
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues