January 28, 2014 / 7:20 AM / 4 years ago

UK's Carpetright warns on profit again

LONDON, Jan 28 (Reuters) - Britain’s biggest floor coverings retailer Carpetright warned on year profit for the second time in almost four months after deteriorating trade in the Netherlands dampened an improving performance in the UK.

The firm, whose boss Darren Shapland quit after a profit warning in October, said on Tuesday it now expected its full-year underlying pretax profit to be below the lower end of current market expectations.

Analysts had been expecting a pretax profit of between 9 and 10 million pounds ($14.9-$16.6 million), according to Reuters data.

Carpetright said sales at UK stores open at least a year rose 1.9 percent in the 13 weeks to Jan. 25, its fiscal third quarter, compared with a first half decline of 0.8 percent.

However, like-for-like sales in its smaller European unit - comprising Ireland, Belgium and the Netherlands - fell 7.7 percent, having fallen 8.6 percent in the first half, with the Netherlands suffering from “extremely difficult economic conditions”.

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