skip to main content
Find Insight DIY on
* * *


United Carpets Reports Satisfactory Interim Performance

United Carpets & Beds 725 x 500.jpg

United Carpets Group plc (LSE: UCG), the third-largest chain of specialist retail carpet and floor covering stores in the UK, today announces its interim results for the 6 month period ended 30 September 2019. 

Key points 

·      Revenue for the period increased by 36.4% to £14.75m (2018: £10.81m) 

·      Like for like sales* were +1.8% 

·      Profit before tax and IFRS 16 adjustments** was £154,000 (2018: £121,000) 

·      Earnings per share before IFRS 16 adjustments were 0.14p (2018: 0.09p) 

·      Profit before tax after IFRS 16 adjustments was £nil (2018: loss before tax of £4,000) 

·      Earnings per share after IFRS 16 adjustments were -0.01p (2018: -0.03p) 

·      Interim dividend maintained at 0.135p per share (2018: 0.135p) payable 17 January 2020 

·      Net funds*** were £1.09m (2018: £2.01m) 

·      LFL sales for the 11 weeks since the period end were -3.5% 

   * Like for like sales are defined in the financial review
 ** IFRS 16 adjustments are explained in note 1
*** Net funds comprise cash and cash equivalents less borrowings (hire purchase liabilities)

 Paul Eyre, Chief Executive, said:

"A small improvement in profit before tax and IFRS 16 adjustments is a satisfactory performance in a challenging market environment with consumer confidence constrained by political uncertainty. Nevertheless, the Group generated a significant increase in revenues, primarily driven by a small increase in the average number of stores trading compared to the prior period and the Group's fledgling instalment payment model, a new business channel for the Group with the potential to become an important future profit centre. Importantly, the fundamentals of the Group remain sound. We have a strong network of mostly franchised stores, offering an excellent range of good quality, great value products making us well placed to benefit from any uptick in the market environment."

Source : United Carpets & Beds

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter. 

23 December 2019

Related News

view more UK DIY News

Insight DIY always publishes the latest news stories before anyone else and we find it to be an invaluable source of customer and market information.

Max Crosby Browne - CEO, Home Decor

Don't miss out on all the latest, breaking news from the DIY industry