Carpetright reckons it will remain strong despite challenging market
CARPETRIGHT said yesterday that it remained a profitable business despite a “substantial” reduction in profits over the past year.
The carpet and flooring company last month reported a 5.8 per cent decrease in trade for the year ending 30 April and, in spite of improvement, sales fell at a rate of 1.5 per cent for the 12 weeks to 23 July.
Carpetright chairman Lord Harris said at the company’s AGM yesterday that the continued decline was fully anticipated and admitted that he did not expect an immediate respite.
“Looking forward,” he said, “I see no respite from the challenging environment over the next year but remain confident the group will emerge in a strong position to deliver future growth once consumer demand improves.”