News: Increased profit for United Carpets

Rotherham-based United Carpets Group plc, the second largest chain of specialist retail carpet and floor covering stores in the UK, has reported that profit before tax and exceptional items increased by 7.3% to £1.463m for the year ended 31 March 2010.

With their head office at Bramley, United Carpets operates 82 stores and directly and indirectly employs over 450 people.

Sales of carpets, wooden flooring and beds at corporate and franchise stores increased 7.4% to £69.9m. Like for like sales across the whole of the network were up 1.0% compared to the previous year.

The year under review was one of consolidation, following a significant increase in the number of stores in the previous year, and the objective was to reduce the number of corporate stores by matching them with new franchisees.

Paul Eyre, chief executive, said: "Revenues and profits both increased and we achieved our objective of re-balancing the store portfolio with the reduction in the number of corporate stores helped by a record number of new franchisees this year reflecting the continued attractiveness of our business model, even under current circumstances.

"However, the market environment remains challenging, with little improvement in volume across the housing market and an understandable sense of caution amongst consumers given the continuing economic uncertainty in the UK.

"This was reflected in a slow trading period since January which has continued into the current financial year."

United Carpets website

Images: unitedcarpetsandbeds.com