News: United Carpets well positioned for recovery in consumer spending

Rotherham based United Carpets Group plc has announced its interim results for the period ended 30 September 2008. The group generated revenues of £12.62m compared to £10.31m in the comparable period in 2007, operating from 73 stores located across Northern and Central England. Since the period end, a further seven stores have opened increasing the number of stores to 80. Network sales across the group, including the value of retail sales by franchisees, increased 5.9% to £30.88m (2007 - £29.16m). However, profit before tax decreased by 9.8% to £637,000 (2007 - £706,000). Paul Eyre, chief executive, said: "United Carpets, along with the wider retail sector, is facing very tough trading conditions, with greatly reduced consumer spending power. Despite this, the Group's focus on quality products at affordable prices, sold through both our corporate and franchised stores has generated a satisfactory result for this half year, despite increased costs associated with our store opening programme and additional marketing expenditure to maintain and increase market share. We believe that United Carpets' position at the value end of the sector, combined with its relatively resilient franchise structure, will enable us to continue to trade through this difficult period and be well positioned for the eventual recovery in consumer spending."
United Carpets website
Rotherham