Home / Knowledge / News / Textiles / Carpetright delivers another solid performance
Carpetright delivers another solid performance
01
Jul '08
Carpetright plc, Europe's leading specialist carpet and floor coverings retailer today makes its preliminary announcement of its audited results for the 53 weeks ended 3 May 2008.


Highlights
• Total Group revenue increased by 9.6% to £521.5 million (2007: £475.9 million)

• Revenue increased by 8.3% to £452.7 million (2007: £418.1 million) in the UK and Republic of Ireland (“UK & RoI”) and by 19.0% to £68.8 million (2007: £57.8 million) in the Rest of Europe

• Like-for-like sales decline of 2.7% in the UK & RoI, with a local currency increase of 6.7% in The Netherlands / Belgium

• Gross margin improved to 62.8% (2007: 61.9%) in the UK & RoI

Underlying* Group profit before tax increased by 7.6% to £62.1 million (2007: £57.7 million)

• Reported Group profit before tax £59.5 million (2007: £67.0 million)

• Operating margin in The Netherlands / Belgium over 10% for the first time

Underlying* earnings per share increased by 8.9% to 63.5 pence (2007: 58.3 pence)

• Basic earnings per share 63.2 pence (2007: 68.2 pence)

• Strong cash generation with operating cash flow of £72.7 million

• Net debt at £57.5 million following investment in new cutting and distribution centre and acquisitions

• Store portfolio increased to 675, comprising 559 in the UK & RoI and 116 in the Rest of Europe

• Recommended final dividend of 30.0 pence per share giving a total of 52.0 pence, up 4.0%

* 'Underlying' excludes profits / losses on property disposals and other non-recurring items

Lord Harris of Peckham, Chairman and Chief Executive said: “This year sees the twentieth anniversary of Carpetright. During that time, the Group has grown at a strong pace and this year, despite adverse market conditions, I am pleased to report we have produced yet another solid performance.”

“My fiftieth year of selling carpets has been a challenging one. There is no doubt that the UK floor coverings market became more difficult, in line with other housing and DIY related sectors. This challenge has remained and I believe that the next year will be one of the most difficult I have seen. However, against this background, we are continuing to invest for the future. Carpetright is well placed to weather this period with its strong competitive position, clear UK and European strategic plans, and continued focus on margin growth and strong cash generation.”

Carpetright plc
Carpetright plc is Europe's leading specialist carpet and floor covering retailer trading from over 500 stores and concessions in the UK and Republic of Ireland, as well as over 100 stores across Holland, Belgium and Poland.

Carpetright plc


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search