Trading Update
April 12 2007 - 3:01AM
UK Regulatory
RNS Number:7253U
Carpetright PLC
12 April 2007
Carpetright plc
Trading Update
Carpetright plc, Europe's leading specialist carpet and floor coverings retailer
with over 600 stores, today announces a post Easter trading update.
Since the half-year the UK and Republic of Ireland business has recorded a total
sales increase of 4.4% with like for like sales down by 2.2%. Trading for the
last ten weeks has been more difficult than we anticipated and like for like
sales have declined by 5.2%. Trading in the Rest of Europe has remained strong
with total second half sales up by 10.8% and like for like growth of 4.2%.
The Group now anticipates that pre-tax profits (excluding property profits) for
the year to 28 April 2007 will be marginally ahead of last year's profitability.
Property profits will be above last year's level at around #8.5 million.
Over the course of the year we have opened 90 stores within the UK and Republic
of Ireland, and closed 20 taking the total number of stores to 510. Within the
Rest of Europe we have opened eight and closed one store in The Netherlands and
opened four in Poland taking the total number of stores to 109.
Lord Harris of Peckham, Chairman and Chief Executive, said:
"Whilst I am disappointed with our performance since interest rates increased in
January, I am confident that Carpetright continues to gain market share. We
will continue to open stores where appropriate and are taking actions that
reduce our costs in all areas. We continue to deliver strong cash-flow and,
after the costs of the store opening programme, expect to have minimal net debt
at the year-end."
The Group will report its results for the financial year ending 28 April 2007 on
26 June 2007.
For further enquiries please contact:
Carpetright plc
Ian Kenyon, Group Finance Director 01708 525522
Citigate Dewe Rogerson
Kevin Smith / Fiona Mulcahy 020 7638 9571
Carpetright plc
Trading Update, 12 April 2007 - Financial Year Ending 28 April 2007
2006/2007 2005/2006
Store Base - Numbers 7 April 28 October 2006 29 April 29 October
2007 2006 2005
UK & RoI
Large 372 367 355 346
Small 66 64 45 34
Concessions 72 63 40 35
510 494 440 415
Rest of Europe
Belgium 28 28 28 29
The Netherlands 75 70 68 64
Poland 6 3 2 -
109 101 98 93
Group Total 619 595 538 508
2006/2007 2005/2006
Store Space (knsf) 7 April 28 October 2006 29 April 29 October
2007 2006 2005
UK & RoI
Large 3,586 3,591 3,486 3,421
Small 333 320 230 178
Concessions 153 146 105 77
4,072 4,057 3,821 3,676
Rest of Europe
Belgium 347 347 347 368
The Netherlands 890 854 836 799
Poland 63 35 23 -
1,300 1,236 1,206 1,167
Group Total 5,372 5,293 5,027 4,843
This information is provided by RNS
The company news service from the London Stock Exchange
END
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