Interim Management Statement
August 07 2007 - 3:01AM
UK Regulatory
RNS Number:6171B
Carpetright PLC
07 August 2007
Carpetright plc
Interim Management Statement
Carpetright plc, Europe's leading specialist carpet and floor coverings retailer
with over 650 stores, today publishes its first Interim Management Statement as
required by the FSA's disclosure and transparency rules. The statement relates
to the first 13 weeks of the new financial year, representing the period 29
April to 28 July 2007.
We are pleased to announce that, during the first 13 weeks, Group sales
(including Storey Carpets Ltd) have increased by 16.7%. In the UK and Republic
of Ireland total sales have increased by 16.6%. Carpetright's like-for-like
sales have increased by 2.4% with the gross margin increasing by over 1%.
Trading in Belgium and the Netherlands has also been strong with total sales
increasing by 15.6% and like-for-like sales up 13.4%. Poland continues to trade
in line with expectations.
On 1 May 2007 the Group acquired Storey Carpets Ltd ("Storeys") for an initial
consideration of #18.5m. During the period Storeys' sales have been in line
with expectations while gross margin has improved significantly against the
previous year.
Lord Harris of Peckham, Chairman and Chief Executive, said:
"The Group has had a solid start to the year and continues to gain market share.
We are particularly pleased with the performance of our European businesses.
Storeys is an excellent acquisition for the Group and we look forward to
continued expansion of the brand in the north of England. We still expect a
challenging retail environment and will continue to cut costs in the business,
relocate to smaller stores where appropriate and focus on cash generation."
For further enquiries please contact:
Carpetright plc
Ian Kenyon, Group Finance Director 01708 525522
Citigate Dewe Rogerson
Kevin Smith / Fiona Mulcahy 020 7638 9571
7 August 2007
Carpetright plc
Interim Management Statement
2007/2008 2006/2007
Store Base - Numbers 28 July 28 April 28 October
2007 2007 2006
UK & RoI
Large 374 374 367
Small 66 65 64
Concessions 72 73 63
Storeys 31 - -
543 512 494
Rest of Europe
Belgium 28 28 28
The Netherlands 75 75 70
Poland 7 6 3
110 109 101
Group Total 653 621 595
2007/2008 2006/2007
Store Space (knsf) 28 July 28 April 28 October
2007 2007 2006
UK & RoI
Large 3,573 3,601 3,591
Small 334 329 320
Concessions 155 154 146
Storeys 345 - -
4,407 4,084 4,057
Rest of Europe
Belgium 347 347 347
The Netherlands 898 903 854
Poland 72 63 35
1,317 1,313 1,236
Group Total 5,724 5,397 5,293
This information is provided by RNS
The company news service from the London Stock Exchange
END
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