Interim results for the 26 weeks to October 30 2010 show the floorcoverings retailer's sales slipped 4%, while underlying pre-tax profit tumbled 28.1%.


Commenting on the results, chairman and chief exec Lord Harris of Peckham described the first half of the year as "challenging".

Revenue in the period was £248m, down from £258m in 2009. Underlying profit before tax decreased from £13.9m in 2009 to £10m.

However, Lord Harris underlined that the business has continued to trade profitably despite the current economic environment and said he believed the business is "well positioned to deliver future sales growth when consumer demand in our sector improves".

The period saw the business continue its roll out of bed departments in existing stores, with 176 trading at the half-year point "generating a new income stream and adding to the strength of the company," said the report. Bed sales were up more than 30% in the period and more bed departments are planned for the second half.

The focus going forward will also be on opening "smaller, profitable High Street stores" in line with strategy over the past year.

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