Expansion plans require massive injection of cash for regional carpet retailer
United Carpets is planning a£20 million flotation on AIM next month. The flooring retailer, which has 50 primarily franchised stores in northern and central England, intends to double its estate in the next three years, possibly by the acquisition of regional competitors.Year-on-year operating profit for the 12 months to March 31 grew by 54 per cent from£1.2 million to£1.8 million.
United Carpets chief executive Paul Eyre said: 'Within a relatively short timeframe, United Carpets has established itself as the UK's third-largest chain of specialist retail floor covering stores. Joining the AIM market will increase the profile of the group, encourage potential franchisees to participate in our success and enable us to seek out potential bolt-on acquisitions.'
No comments yet