Carpet and floor coverings retailer Carpetright Plc. (CPR.L) announced its preliminary results for the 52 week trading period ended 27 April 2013. Loss for the year attributable to equity shareholders of the Company was 6.6 million pounds, compared to profit of 11.0 million pounds in the previous year. Loss per share was 9.8 pence, compared to earnings of 16.4 pence in the prior year.
Exceptional charges totalled 14.8 million pounds (2012: a surplus of 9.5 million pounds) primarily from onerous lease provisions, net losses on the disposal of property and non-cash impairment charges. As a result, the loss before tax was 5.1 million pounds, compared to profit of 13.5 million pounds last year.
Underlying profit before tax was 9.7 million pounds, up from 4.0 million pounds in the comparable year.
Underlying profit attributable to equity shareholders was 6.5 million pounds, up from 3.0 million pounds in the previous year. Underlying basic earnings per share improved to 9.6 pence from 4.5 pence last year.
Total revenue decreased 2.9% to 457.6 million pounds from last year's 471.5 million pounds.
"The success of our self-help activities in improving Group performance during the period was particularly encouraging, demonstrating that a focus on factors within our control can yield good results. While we expect trading conditions to remain challenging, we are confident this combination of self-help initiatives will underpin the positive momentum of the Group," the company said.
The company said that its board has decided not to pay a final dividend, compared to no final dividend paid last year, resulting in no full year dividend for the both latest and prior year.
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