FLOORING

Abingdon mullers market; £60m+ carpet giant, «We are still growing»

30th July 2010

British carpet manufacturer Abingdon Flooring says it has outperformed the market with revenues climbing by more than seven per cent to reach £63.4m.

Operating profits to end March rose from £0.444m to £1.747m, while before tax returns climbed to £1.483m against £0.104m last year. The Abingdon group also includes carpets and smooth flooring supply and distribution divisions.

Directors said that while trading conditions have proven to be difficult for both manufacturers and retailers, they were "pleased to have increased market share, overall turnover by 7.5% and operating profit by £1.3m in a market that has decreased by 10%.

They added, "Furthermore, our first two months of the new financial year are showing growth against 2009 figures which indicates that the upward trend is continuing."

It also said that it was currently phasing a multi-width stand into the market that offers customers more than 1,200 range options, which it said its competitors couldn't match.

Directors finished by saying that though the year ahead would be challenging, they expected to "grow market share and deliver sound profits ahead of our competition."