Sunday, January 29, 2023

Carpetright issue another profits warning

PURFLEET-based Carpetright, Britain’s biggest seller of flooring materials, and considered a barometer of the house repair and maintenance market, has issued another profit warning; its sixth in a year.

Its UK sales fell by 4.5% in the three months to 21 January with like-for-likes down 0.5%, compared to the same time last year.

Lord Harris of Peckham, the firm’s chairman, said: “We expect that underlying pre-tax profits for the full year will be slightly below the lower end of the range of market expectations.

“Looking forward, I see no respite from the challenging environment over the next 12 months but remain confident the group will emerge in a strong position once demand improves,” he said.

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