Carpets and beds retailer United Carpets & Beds has reported sales of more than £20m with a profit of almost £2m.
According to its latest filed accounts for the year ended 30 September 2021, total sales reached £23.8m against an 18-month period where sales achieved £37.9m.
Gross profit stood at £15.5m, while pre-tax profit resulted at £1.8m. This was a significant increase on its 2019 12-month period profit of £595,000, and against the previous 18-month period’s loss of £648,000.
Stated within its report, United Carpets & Beds, which operates through 60 stores – the majority of which are franchised – across the UK, said its business model demonstrated its ‘strength’ to deliver positive results in challenging times, paying tribute to its ‘skilful franchisees’ during the period.
The group said the increase in profit was due to cost savings, delisting benefits, the release of a bad debt provision and the strength of its network.
United Carpets & Beds added that floor coverings are the primary driver of sales, while its bed offering continues to grow with around 90% of its store network featuring the product category.
Finally, the company revealed that its warehousing operation benefited from ‘huge improvements’ and investment during the lockdown periods. A new installation of a cutting machine was implemented, while repairs were completed at its distribution centre, including new shelving and forklifts.
“The warehouse is seen as a key element of service to the store network, and whilst it is not intended to generate a normal, commercial return, with the improved cutting service resulting in less waste and less time from shelf to delivery, we hope the see a modest profit in the future,” United Carpets said.