25 May 2023 - AGM statement
The UK's leading floor coverings distributor has issued a trading update to coincide with its AGM and this has revealed that revenues in the first four months of the year were 3.4% ahead of the same period last year. Weak residential sales were offset by stronger revenues from larger and trade customers and the commercial sector also performed well. However, one result of this change in mix has been that profit margins have fallen and the group is taking mitigating action to counter this including cutting costs, launching new products and raising prices . . .
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