CPR Carpetright Plc

 

TIDMCPR 
 
RNS Number : 8121Y 
Carpetright PLC 
10 September 2009 
 

 
 
 
 
 
Carpetright plc 
AGM Statement 
 
 
 
 
Carpetright, Europe's leading specialist carpet and floor coverings retailer, 
will hold its Annual General Meeting ("AGM") at 1200 today at Harris House, 
Purfleet Bypass, Purfleet, Essex, RM19 1TT. 
 
Historically, Carpetright has not provided any additional information on trading 
performance at the AGM, since it falls only five weeks after the first quarter 
trading update given in early August.   While this position remains unchanged, 
at the meeting today Lord Harris, Chairman & Chief Executive, will be making the 
following statement, re-iterating the Company's belief in the continued 
improvement in trading conditions in the UK. 
 
 
"The last financial year was extremely challenging for the Group.  Market 
conditions and consumer confidence declined throughout the year, leading to a 
significant reduction in sales volume.  Throughout this period we remained 
profitable and I am more confident about the future prospects for a number of 
reasons. 
 
 
"We have seen our principal nationwide competitor, Allied Carpets, enter into 
administration and significantly reduce its number of stores.  We are securing 
more insurance business each week and have secured contracts to supply a number 
of house builders.  We have a central warehouse and cutting facility which has 
the capacity to significantly increase volumes at minimal additional costs. 
Finally, the mortgage approval data is providing an indicator that the market 
will be stronger in the Spring of next year. 
 
 
"All these factors make me cautiously optimistic ahead of our important Autumn 
trading period, although it is too early to say to what extent this will impact 
on the full year financial results" 
 
 
Carpetright's next trading update will be made on Wednesday 28 October 2009 and 
will cover the trading performance for the first 25 weeks of the financial year 
to 24 October 2009. 
 
 
- ENDS - 
 
 
Enquiries: 
+----------------------------------------+----------------------------------------+ 
| Carpetright plc                        | Tel: 01708 802000                      | 
| Lord Harris of Peckham, Chairman and   |                                        | 
| Chief Executive                        |                                        | 
| Neil Page, Group Finance Director      |                                        | 
|                                        |                                        | 
+----------------------------------------+----------------------------------------+ 
| Citigate Dewe Rogerson                 | Tel: 020 7638 9571                     | 
| Kevin Smith / Angharad Couch           |                                        | 
|                                        |                                        | 
+----------------------------------------+----------------------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 AGMUUUUWBUPBGMB 
 

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