Pre-tax profits narrow at carpet firm

United Carpets Group, the third largest chain of carpet and floor covering stores in the UK, has seen its pre-tax profits narrow to £589,000 after investing in its bed division and online capacity.

The Mexborough based firm’s half-year report to 30 September showed that like for like sales increased by 2.9% in the period but that revenues reduced to £9.97m from £10.20m. Pre-tax-profits stood at £589,000, down from £640,000 in the previous half-year results. 

Paul Eyre, chief executive, said“Delivering a good like for like performance is a creditable result and since the half-year like for like sales have improved further. Investment to support the Group’s online activities and Beds operation reduced profits slightly in the first half although this is being offset by operational actions that are already beginning to bear fruit in the second half.

“As with other markets there is fragility to the current retail environment which undoubtedly reflects the general uncertainty across the economic and political spectrums. We remain focused on our areas of expertise which ultimately all lead to delivering excellent quality and value for money to our customers.”

Store numbers increased from 57 to 58. The firm added that like for like sales since the period end showed further improvement on the first half performance.

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