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Carpetright PLC (CPR)

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Wednesday 28 October, 2009

Carpetright PLC

Pre Close Trading Update

RNS Number : 4740B
Carpetright PLC
28 October 2009
 



                                




28 October 2009            

Carpetright plc

Pre Close Trading Update

For the 12 weeks to 24 October 2009


Carpetright plc, Europe's leading specialist carpet and floor coverings retailer, today announces the following trading update for the 12 weeks ended 24 October 2009.


Highlights for the 12 weeks to 24 October 2009


  • Group sales rose by 10.3%, with store base increased to 7182 at the period end.

  • UK and Republic of Ireland sales rose by 12.2%, with like-for-like sales3 up 5.6%. A net 11 stores have been opened, increasing the total to 5922.

  • In constant currency terms, Rest of Europe (The Netherlands, Belgium and Poland) total sales decreased by 9.9% with like-for-like sales down 8.2%.  After allowing for the movement in exchange rates, this translates to a total sales growth of 1.6%.  The store base remains at 126.



13 weeks to 

1 August 2009

(previously reported)

12 weeks to 

24 October 2009

25 weeks to 

24 October 2009


Group Sales

7.5%

10.3%

8.9%





UK & RoI




- Total

6.6%

12.2%

9.5%

- Like-for-like

1.4%

5.6%

3.5%





Rest of Europe  

- Total (in GBP)

11.4%

1.6%  

6.4%  

- Total (in constant currency)

0.9%

(9.9%)

(4.5%)

- Like-for-like (in constant currency)  (2.8%)

(8.2%)

(5.4%)


Lord Harris of Peckham, Chairman and Chief Executive, said:


"We are pleased with our overall performance during the period.  


"In the UK, we continue to take advantage of opportunities and have opened a net 11 new stores in the last twelve weeks. Our discussions with house builders and insurers have begun to secure us additional business and we expect to continue to make progress in this area during the second half.  The underlying carpet margin has remained in line with last year, whilst the greater proportion of beds sales in the mix has resulted in the overall UK gross profit percentage dropping by around 60 basis points.


"As expected, sales in The Netherlands and Belgium decreased as a consequence of slowing economic conditions.  However, we believe we continue to grow market share and are well positioned to capitalise on this when trading conditions improve.  


"We expect to deliver a half year profit performance ahead of expectations and, whilst we remain cautious about the retail market in the balance of the financial year, we have made a solistart."



Analyst conference call

Lord Harris will host a conference call for analysts at 8.15 a.m.

 

The dial in number is 0800 028 1243 with the passcode 4543012.


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

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 7.00 a.m.



Notes 

  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 its Interim Results for the 26 weeks to 31 October 2009 on Tuesday 15 December 2009.
  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.



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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