StockMarketWire.com - Floor retailer United Carpets Group booked a fall in annual profit, blamed on last year's hot summer, football World Cup and a weaker housing market.

Pre-tax profit for the year through March dropped to £0.6m, down from £1.5m on-year.

Revenue grew 10% to £24.0, though it fell 0.1% on a like-for-like basis.

Sales had improved in the new financial year, with like-for-like sales since the period end up 4.6%

United Carpets held its final dividend steady at 0.285p per share.

'An unusually hot summer last year, combined with the football World Cup and a softer housing market, made this a challenging year,' chief executive Paul Eyre said.

'Despite this, sales increased by 10.4% through supporting our existing store network and further developing new business opportunities which helped increase market share, whilst only making a small positive contribution to profit in the year.'

'Profit before tax was within the reduced range anticipated in March 2019 reflecting an increasingly difficult retail environment.'

'The business remains well placed with a largely franchised store portfolio operating under a trusted brand, delivering good quality and great value products, and able to take advantage of any upturn in the broader market.'

'The current financial year has started positively with like for like sales up 4.6% for the first 16 weeks.'




At 9:04am: [LON:UCG] United Carpets Group PLC share price was -0.13p at 5.25p



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