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Carpetright sees profits plummet

Annual profits at Carpetright slumped to £4m but the retailer offered some comfort over its recent sales performance.

The group, which has 490 UK stores, has seen its profits fall from £17m last year and £62m in 2008. Its like-for-like sales in the UK were down 0.2% over the year to April 28 but Carpetright said there was "cause for optimism" in recent trading.