Carpets and beds retailer United Carpets & Beds has reported a growth in sales but a decline in profit.

According to its latest filed accounts for the year ended 30 September 2024, total sales rose 10% £15.3m from £13.9m in 2023. Pre-tax profit resulted at £85,000, down from £302,000 recorded the previous year.

Stated within its report, the group, which trades from 57 stores – 43 being franchised and 14 corporate, said: “The financial year-end to 30 September 2024 for us, and like many retailers in the flooring industry, remained competitive. As a predominately Franchised business and in an ever-tightening market we saw a decrease in LFL sales of 3.6% against an increase of 1.1% in LFL sales in the prior year.

“The Franchise network, like all businesses in 2024, was hit with the continued cost-of-living crisis that has been affecting our customers and competitors alike. The volatility of oil prices linked to Ukraine, and as of writing, the tensions in the Middle East have maintained a sense of pessimism in the market. Inflation remains sticky and interest rates remain high; retail traders have been feeling the effects none other than Carpetright who fell into administration in July 24.

“We are pleased to maintain the excellent relationships we have with our key suppliers, there is no doubt that this allows us to keep our price increases to a minimum and therefore we keep our prices competitive for customers. So, against this backdrop, cur LFL sales for the period up to publication have increased by 6.9% showing the strength of our Franchise model.”