UNITED Carpets has bucked the retail trend and boosted pre-tax profits by almost 47 per cent to £1.5 million on like for like sales up by more than nine per cent for the year to the end of March.
The Mexborough-based group says it plans to keep expanding its network of 65 franchised and group owned stores – up from 59 during the last year.
Chief executive Paul Eyre says the expansion, combined with the value for money, innovative product r
anges, proactive sales strategies and improved service it is offering customers will enable the company to continue to deliver satisfactory growth in the coming year.
Chairman, Peter Cowgill, says like for like sales continued to rise after the end of its financial year.
"There is no doubt the outlook for retailers across the market is challenging and United Carpets will not be immune to the broader economic conditions particularly through raw material price increases and the strength of the euro," said Mr Cowgill.
"However, our franchise model means that the majority of our stores are run individually by the "owner" ensuring higher staff motivation levels across the Group and our principles of steady, controlled growth supported by significant cash reserves mean that the Company is well placed to face the increasingly difficult trading environment ahead."
The company is recommending a final dividend of 55p, making a total for the year of 0.825p, up by 10 per cent from 0.75p.
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