CARPETRIGHT posted a rise in operating profit for the first half, as a small increase in UK sales counteracted a continued decline in its European business, the retailer said yesterday.
Like-for-like revenue at its UK business, which accounts for about 80 per cent of group sales, grew by 0.7 per cent in the 26 weeks to end-October, supported by a programme of refurbishment and new product ranges. Group underlying operating profit rose 46 per cent to £5.4m, keeping the company on track to meet its full-year expectations, as the new products and less promotional activity boosted margins.
Chief executive Darren Shapland said the increase in UK sales and the improvement in gross profit was encouraging.
City A.M. Reporter