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Franchise model drives United Carpets profits rise
CARPETS to beds company United Carpets increased revenue and profits on the back of strong franchise work.
The Mexborough-based firm, which is the second largest chain of specialist carpets sellers in the UK, said today revenue rose 2.5 per cent to 27.47m. Pre-tax profits shot up 84.5 per cent to 1.098m and profit before tax and exceptional items increased 7.3 per cent to 1.463m.
Store numbers rose two to 82 and United cut the number of corporate stores, as planned, from 23 to 12.
Revealing the results for the year to March Paul Eyre, chief executive, warned of a slowdown despite the bumper performance.
"We achieved our objective of re-balancing the store portfolio with the reduction in the number of corporate stores helped by a record number of new franchisees this year reflecting the continued attractiveness of our business model, even under current circumstances.
"However, the market environment remains challenging, with little improvement in volume across the housing market and an understandable sense of caution amongst consumers given the continuing economic uncertainty in the UK.
"This was reflected in a slow trading period since January which has continued into the current financial year."
United will pay a final dividend of 0.5p per share, the same as last year.
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Saturday 11 February 2012
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