Carpetright reports ‘year of two halves’ as turnaround continues

Carpetright reported progress with its turnaround

Carpetright has posted reduced annual losses and said there has been strong like-for-like growth in the new financial year.

The floorcoverings giant, which last year underwent a CVA, reported a statutory pre-tax loss of £24.8m in the year to April 27, down from £69.8m in 2018. Underlying EBITDA was £2.9m – which Carpetright said was in line with expectations – versus £7.1m the previous year.

Group revenue slid 13.4% to £386.4m during the year.

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