Carpet and floor coverings retailer United Carpets Group PLC has reported a growth in profit for year ended 31 March.
The company saw profit increase from £1.21m before tax in March 2015, to £1.49m in the same period for 2016. Revenue has increased from £2.01m in March 2015, to £21.40m on 31 March 2016 and store numbers have been maintained at 61. This has been put down to a rise in demand from target customers and a modest increase in consumer confidence.
The Group acknowledged that uncertainties following the Brexit vote are likely to continue for some time, but highlighted the board’s confidence that it can continue to progress in the current environment.
Paul Eyre, chief executive, said: “Our trading performance for these 12 months has been good, building upon the momentum begun in the previous year. We achieved a like for like sales increase of 5.8% across the business, demonstrating sound underlying trading which led to a 23% increase in profit before tax. The Group continues to be virtually debt-free, cash generative and is growing organically at a sustainable rate. The board therefore believes the Group to be well positioned to continue this progress supported by a store network that is in good shape.”