Carpetright plc has announced its interim results for the 26-week trading period ending 25th October 2014.
In the UK, the group saw like-for-like revenues increase by 6.5%.
The retailer's estate of stores was reduced by a net of nine during the period to 463. 290 of these stores have been modernised.
Commenting on the results, Wilf Walsh, chief executive, says: “I am pleased to report that the group grew profits during the first half, with an encouraging increase in UK like-for-like sales, a return to underlying profit in the rest of Europe and a net cash position at the end of the period. Having made a solid start to the year, we now expect full year underlying pre-tax profits to be towards the upper end of current market expectations.
“We believe that, with a well-researched and well-executed strategy, we can begin to reshape Carpetright to ensure the business fully capitalises on its market-leading position.
“These changes will take time to take full effect but we are absolutely focused on maintaining the recent improvements in the performance of the group, as well as devoting our energies to revitalising our brand and operations in line with contemporary customer expectations. As a team we are excited by the potential that exists and are concentrating hard on execution of this new strategy as we enter 2015.”
