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Posts: 12,284
[UCG] Wrote about this on the Premium Share Chat. As a result of Allied Carpets entering administration. The second major beneficiary should be United Carpets as it is alleged it will pick up some 20 out of the 46 close by outlets out of a possible 76 available outlets in total, which will instantly cause [UCG] to increase in value by at least 25%. With the closure of Allied, this could translate into an addition £10Mns in turnover for [UCG] according to broker Seymour Pierce.
Posts: 12,284
[UCG] Very impressed with efforts being made at this tiddler augers well for the future economic upturn. http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10126974
Posts: 12,284
[UCG] Directors often know a thing or two about the future prospects of the business, this is often reflected in their trades. Announced that on 3 September 2008 the self invested personal pension of Ian Bowness, the finance director of the Company, acquired 1,225,000 ordinary shares in the Company at 8.1p per share.Following this acquisition, Mr Bowness is interested in 2,691,208 ordinary shares, representing approximately 3.3 per cent. of the issued share capital of the Company
Posts: 12,284
[UCG] reaction to interim statement published today. 'After a relatively slow start to the year, the second quarter over the summer period was very positive resulting in like for like sales up 2.5% for the period, an excellent result given the wider economic uncertainty and strong comparatives. [UCG]'s focus on countering consumer caution by delivering excellent value for money has been effective. Equally pleasing has been the successful conversion of a significant number of corporate stores to franchisees so that today UCG have 10 corporate stores compared to 23 at the outset of the financial year. Trading has continued to be positive since the period end, giving the Board sufficient confidence to re-instate the interim dividend."
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[UCG] The following statement was made at the Annual General Meeting of United Carpets held today at 10.00am. 'I am pleased to confirm the Group continues to trade in line with market expectations for the full year. However, the trading environment during the first 25 weeks of this financial year to 22 September 2011 has been challenging and like for like sales were 0.6% lower against the comparable period last year. Given the ongoing economic uncertainty across the UK and with the austerity measures now resulting in job cuts throughout the public sector, consumers have continued to spend their money cautiously. Whilst it remains our strategy to reduce, over time, the number of corporate (non franchised) stores, that number, in fact, increased from 14 to 18 during the 25 week period. As these additional stores were loss making they will have a greater adverse impact on Group profitability in the first half than if they had continued as franchised stores. Sales of flooring were slightly ahead of the comparable period last year. As ever, customers have recognised the value for money we offer and the opportunity to choose from our extensive ranges of flooring. We believe our trading performance continues to compare favourably with our nearest retail peers. The beds division has again struggled despite relatively weak comparatives, with consumers apparently still reluctant to spend on larger value items. In September, the Group was voted the UK's leading Flooring Retailer (3+ stores) at the "Interiors Monthly" 2011 Awards. The award recognises the Group's achievements to date and its constant striving to do even better. Approximately 80% of all United Carpets stores operate under a franchised structure which is a key element in combining the advantages of a multiple retailer with the entrepreneurial drive of an independent. This is particularly important when the wider economic environment is subdued and it requires increased effort from the individual store management teams to maintain sales levels. The Group's long term future remains sound, supported by significant cash balances, and the Group will report our interim results for the 6 months ended 30 September 2011 in December 2011.'
Posts: 12,284
[UCG] United Carpets Group plc ("the Group" or "the Company" or "United Carpets"), the second largest chain of specialist retail carpet and floor covering stores in the UK, today announces its interim results for the period ended 30 September 2011. Key points · Network sales increased 1.9% to £34.86m (2010: £34.20m) · Revenue edged up to £13.47m (2010: £13.36m) · Like for like gross sales 0.8% below the previous year · Adjusted operating profit* decreased to £308,000 (2010: £534,000) · Profit before tax was £267,000 (2010: £604,000) · Cash and cash equivalents of £1.72m (2010: £1.85m) · Like for like gross sales since the period end to 15 December 2011 up 4.4%