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Topics: Board of directors, Non-executive director, Executive director Pages: 315 (29112 words) Published: March 29, 2014
Carpetright plc Annual report and accounts 2010

Harris House
Purfleet Bypass
Purfleet, Essex RM19 1TT
Telephone +44 (0)1708 802000
www.carpetright.co.uk
www.carpetright.plc.uk

Annual report and accounts 2010
Europe’s leading floor coverings retailer

Overview
Financial highlights

1

Business overview

2

Chairman’s statement

4

Directors’ report: Business review
Principal activities

5

Business objective and strategies 5
Operational and financial review
Group financial review

6
9

Key performance indicators

10

Principal risks and uncertainties

11

Employees

12

Corporate social responsibility

13

Directors’ report: Governance
Board of Directors

15

Corporate governance

16

Audit Committee report

19

Directors’ remuneration report

20

Other information

25

Statement of
Directors’ responsibilities

27

Financial statements
Financial statements

29

Notes to the accounts

33

Group five year
financial summary

66

Independent auditors’ report

67

Calendar

68

Advisers

68

www.carpetright.plc.uk

Carpetright plc is Europe’s leading
specialist floor coverings retailer.
Since the first store was opened
in 1988 the business has followed
a controlled store expansion
programme developing both
organically and, in recent years,
through acquisition within the
UK and other European countries.
The Group trades from 703 stores
across Europe and employs
approximately 4,000 staff. The Group
is organised into two geographical
regions, the UK & RoI (comprising
the UK and the Republic of Ireland)
and the Rest of Europe (comprising
The Netherlands and Belgium).

1
Overview
Financial highlights

£482.8m
£17.2m
£16.7m
18.2p
17.6p
8.0p

7.0%
64.0%
33.5%
73.6%
33.5%
100.0%

Where this review makes reference to ‘Underlying’ these relate to profit/earnings before exceptional items.

Profit before tax (£m)

600

70

70

Directors’ report:
Governance
Governance

Underlying profit before tax (£m)

2008

2009

2006

2010

2007

2008

Basic earnings per share (p)

70

70

2010

Dividend per share (p)

70
60

2006

2007

52.0

2007

2008

2009

10
0

2010

2008

2009

16.0

2006

20

8.0

10
0
2010

50.0

20

23.5

2009

30

17.6

2008

30

31.6

18.2
2007

40

49.0

50

40

0
2006

63.2

50

65.0

58.3

57.5

63.5

60

68.2

Underlying earnings per share (p)

2009

2010

www.carpetright.plc.uk

Financial Statements
statements

2007

0

22.3

2006

2010

16.7

2009

59.5

2008

64.2

2007

28.2

17.2

2006

516.6

62.1

57.7

56.7

516.6

482.8

521.5

475.9

451.4

0

0

67.0

Revenue (£m)

Directors’ report:
Business review
Business review

Change

£516.6m
£28.2m
£22.3m
31.6p
23.5p
16.0p

Revenue
Underlying profit before tax
Profit before tax
Underlying earnings per share
Basic earnings per share
Dividend per share
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