Flooring retailer Carpetright has seen its pre-tax profits dive as it warned shareholders of “challenging” trading conditions. In the first half of the year, Carpetright’s bottom line pre-tax profits dropped 92.7 per cent to £300,000, while overall profits after tax were down 58.8 per cent to £2.1 million. Revenues edged up 2.6 per cent, despite dropping slightly in the UK to £185 million, having been propped up by a 20 per cent rise in European sales to £43 million.
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Carpetright issues warning as profits drop a further 93%