12th Apr 2007 07:01
Carpetright PLC12 April 2007 Carpetright plc Trading Update Carpetright plc, Europe's leading specialist carpet and floor coverings retailerwith over 600 stores, today announces a post Easter trading update. Since the half-year the UK and Republic of Ireland business has recorded a totalsales increase of 4.4% with like for like sales down by 2.2%. Trading for thelast ten weeks has been more difficult than we anticipated and like for likesales have declined by 5.2%. Trading in the Rest of Europe has remained strongwith 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) forthe 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 Republicof Ireland, and closed 20 taking the total number of stores to 510. Within theRest of Europe we have opened eight and closed one store in The Netherlands andopened 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 inJanuary, I am confident that Carpetright continues to gain market share. Wewill continue to open stores where appropriate and are taking actions thatreduce 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 debtat the year-end." The Group will report its results for the financial year ending 28 April 2007 on26 June 2007. For further enquiries please contact: Carpetright plcIan Kenyon, Group Finance Director 01708 525522 Citigate Dewe RogersonKevin Smith / Fiona Mulcahy 020 7638 9571 Carpetright plc Trading Update, 12 April 2007 - Financial Year Ending 28 April 2007 2006/2007 2005/2006Store Base - Numbers 7 April 28 October 2006 29 April 29 October 2007 2006 2005UK & RoI Large 372 367 355 346 Small 66 64 45 34 Concessions 72 63 40 35 510 494 440 415Rest of Europe Belgium 28 28 28 29 The Netherlands 75 70 68 64 Poland 6 3 2 - 109 101 98 93Group Total 619 595 538 508 2006/2007 2005/2006Store Space (knsf) 7 April 28 October 2006 29 April 29 October 2007 2006 2005UK & 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 ExchangeRelated Shares:
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