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Carpetright Chief pleased with improved H1 performance

03
May '10
Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, announces an update on trading for the12 week period to 24 April and the second half of the financial year.

Highlights for the 12 week period from 31 January 2010 to 24 April 2010:

• Group sales rose by 4.9%1 and the store base decreased to 7032 at the period end.
• UK and Republic of Ireland sales rose by 6.8%, with like-for-like sales3 up 1.5%.
• A net eight stores have been closed, decreasing the total to 5862.
• In constant currency terms, in our continuing business in the Rest of Europe (The Netherlands and Belgium) total sales increased by 0.9% with like-for-like sales up 1.6%. After allowing for the movement in exchange rates, this translates to a total sales decline of 3.1%. The number of stores remained constant at 117.
• Our announced withdrawal from trading operations in Poland has been concluded successfully.

Lord Harris of Peckham, Chairman and Chief Executive, said:
“UK market conditions have continued to be difficult. Since our last trading update on 23 March, sales have been slightly below our expectations and we anticipate the year ahead to remain challenging.

“Our businesses in The Netherlands and Belgium continue to trade well and have now returned to like-for-like growth.”

Carpetright plc


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