Carpetright full year profit plunges

Flooring retailer Carpetright posted a 76 per cent drop in full year underlying profit but said it is well positioned to deliver future profitable sales growth once consumer demand improves.

Flooring retailer Carpetright posted a 76 per cent drop in full year underlying profit but said it is well positioned to deliver future profitable sales growth once consumer demand improves.

Underlying pre-tax profit tumbled to £4m for the 52 weeks to 28 April 2012 from £16.9m in 2011. Pre-tax profit more than doubled to £13.5m from £6.6m previously while total group revenue fell by 3.1% to £471.5.

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