Belfast Telegraph

Carpetright turnaround 'on the way'

Carpetright insisted trading was set to improve after a tough half year left it nursing sliding UK sales and sharply lower group profits.

Founder and executive chairman Lord Harris, who returned to the helm in October, said while the flooring chain was yet to feel the benefit of Britain's economic revival, the booming housing market suggested a turnaround was on the cards.

Group underlying pre-tax profits slumped by a third to £3m in the six months to October 26 as losses across its wider European business wiped out a 5.8% improvement in UK earnings.

Britain's summer heatwave contributed to a 0.8% fall in UK like-for-like sales, with trading since then remaining "unpredictable".

This marked a reversal of its earlier massive profit rebound.

Belfast Telegraph

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