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Preliminary Results Announcement for the 52 weeks ended 1 May 2010
- Total Group Revenue1 increased by 7.0% to £516.6m (2009: £482.8m)
- Underlying 2 profit before tax up 64.0% to £28.2m (2009: £17.2m)
- Profit before tax of £22.3m (2009: £16.7m)
- Underlying2 earnings per share of 31.6p (2009: 18.2p)
- Basic earnings per share 23.5p (2009: 17.6p)
- Proposed final dividend of 8.0p (2009: 4.0p) making a full year dividend of 16.0p (2009: 8.0p)
- Net debt at year end of £71.3m (2009: £97.1m)
- Total revenue1 increased by 7.9% to £425.2m (like-for-like3 up 3.1%)
- Underlying 2 operating profit increased by 67.9% to £26.2m
- Store base4 increased by 19 to 586
- Total revenue1 increased by 4.1% to £89.2m
- Underlying2 reported operating profit increased by 10.3% to £9.6m
For further enquiries please contact:
2010-04-28 Trading Update
Carpetright plc Year End Pre-Close Period Announcement
- Group sales rose by 4.9%1 and the store base decreased to 7032 at the period end.
- UK and Republic of Ireland sales rose by 6.8%, with like-for-like sales3 up 1.5%.
- A net eight stores have been closed, decreasing the total to 5862.
- In constant currency terms, in our continuing business in the Rest of Europe (The Netherlands and Belgium) total sales increased by 0.9% with like-for-like sales up 1.6%. After allowing for the movement in exchange rates, this translates to a total sales decline of 3.1%. The number of stores remained constant at 117.
- Our announced withdrawal from trading operations in Poland has been concluded successfully.
Lord Harris of Peckham, Chairman and Chief Executive, said:
29 June 2010.
Analyst conference call
Carpetright plc Year End Pre-Close Period Announcement
Trading Update 2010-23 March
Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, today announces a trading update for the 7 weeks ended 20 March 2010. The pace of recovery seen towards the end of 2009 has not been sustained and whilst Group profits (for the year to 1 May 2010) will be considerably ahead of last year, they are likely to fall below current market expectations.
Lord Harris of Peckham, Chairman and Chief Executive, said:
"As we reported in our last trading statement, poor weather in the UK after Christmas severlyey affected the final weeks trading of our third quarter. Nevertheless, based on previous experience we expected to recover some of this lost trade in the remaining weeks of the year. It is now clear that recent like for like sales growth, while remaining positive, has not returned to pre-Christmas levels and the recovery from weak trading in January has not been as significant as expected."
"Our businesses in the Netherlands and Belgium continue to trade well."
"Carpetright will make its usual year end pre-close update on trading on Wednesday, 28 April 2010."
Analyst Conference Call
Lord Harris and Neil Page will host a conference call for analysts at 8.30am.
The dial in number is 0800 028 1234 with the passcode 2774662.
Thereafter, for further enquiries, please contact:
Carpetright plc
Lord Harris of Peckham, Chairman & Chief Executive
Neil Page, Group Finance Director
Tel: 01708 802000
Citigate Dewe Rogerson
Kevin Smith / Angharad Couch / Lindsay Noton
Tel: 020 7638 9571
A copy of this Trading Statement will be available on our website www.carpetright.plc.uk today from 7.00am.
Notes: 1. All sales figures are quoted after deducting VAT. 2. Like-for-like sales represent sales from stores which have been trading for 52 weeks at the start of the financial year. It includes the sales of beds, where these have been introduced in to the like-for-like store base since the aquisition of Sleepright in December 2008. 3. The Group will announce an update on trading for the 12 weeks to 24 April 2010 on Wednesday 28 April 2010. 4. There have been no significant changes to the Group's financial position during the period. 5. Certain statements in this report are forward looking. Although the Group believes that the expectations reflected in these forward looking statements contain risks and uncertainties, actual results may differ materially from those expressed or implied by these forward looking statements. We undertake no obligation to update any forward looking statements whether as a result of new information, future events or otherwise.
Interim Management Statement 2010-03 February
Carpetright plc, Europe’s leading specialist carpet and floor coverings retailer, today announces a trading update for the 13 weeks ended 30 January 2010, being the third quarter of its current financial year.
Highlights
- Group sales rose by 7.0% and the store base increased to 7172 at the period end.
- UK and Republic of Ireland sales rose by 7.7%, with like-for-like sales3 up 2.3%. A net four stores have been opened, increasing the total to 5942.
- In constant currency terms, in our continuing business in the Rest of Europe (The Netherlands and Belgium) total sales decreased by 5.1% with like-for-like sales down.
- After allowing for the movement in exchange rates, this translates to a total sales growth of 5.4%. We opened one store in the period, increasing the total to 117.
- Our announced withdrawal from Poland continues to plan with an envisaged exit from this market by the financial year end. Four stores closed over the period, leaving a portfolio of six.
Lord Harris of Peckham, Chairman and Chief Executive, said:
“We are pleased with our overall performance during the period and believe our continued growth demonstrates the resilience and strength of our business plan.
“In the UK, trading in the early part of the quarter was strong and we experienced double digit like for like growth. The severe weather conditions post-Christmas impacted the final weeks of the quarter but we are hopeful of recovering some of this lost trade in the coming weeks.
“Our new revenue streams from housebuilding and insurance customers are generating incremental business and we expect this to grow in future periods. We have opened a net four new stores in the last thirteen weeks and have recently launched two transactional web sites supporting the Carpetright and Sleepright brands. These sites are trading in line with management expectations.
“We believe we continue to grow market share in our businesses in The Netherlands and Belgium. Whilst we remain cautious about economic conditions in these markets, our businesses have recently demonstrated signs of a recovery in sales performance. This leads us to be optimistic about a return to growth in our Rest of Europe business in the balance of the year.
“Our previously announced withdrawal from our loss making operations in Poland continues and we envisage full exit by the close of this financial year.
“Whilst we remain cautious about our market in the balance of the financial year, we continue our drive for sustained growth and our expectations for the full year are unchanged.”
Analyst conference call
Lord Harris will host a conference call for analysts at 8:30am
The dial in number is 0800 032 3808 with the passcode 7949893
Thereafter, for further enquiries please contact:
Carpetright plc
Lord Harris of Peckham, Chairman and Chief Executive
Neil Page, Group Finance Director
Tel: 01708 802000
Citigate Dewe Rogerson
Kevin Smith / Angharad Couch / Lindsay Noton
Tel: 020 7683 9571
1. All sales figures are quoted after deducting VAT.
2. Excludes Sleepright within Carpetright locations.
3. Like-for-like sales represent sales from stores which have been trading for 52 weeks at the start of the financial year. It includes the sales of beds, where these have been introduced into the like-for-like store base since the acquisition of Sleepright in December 2008.
4. The Group will announce an update on trading for the 12 weeks to 24 April 2010 on Wednesday 28 April 2010.
5. There have been no significant changes to the Group’s financial position during the period.
6. Certain statements in this report are forward looking. Although the Group believes that the expectations reflected in these forward looking statements are reasonable, we can give no assurance that these expectations will prove to have been correct. Because these statements contain risks and uncertainties, actual results may differ materially from those expressed or implied by these forward looking statements. We undertake no obligation to update any forward looking statements whether as a result of new information, future events or otherwise.