December 15, 2017 5:00 am Good morning!
Apologies for the break in service over the past couple of days.
Best,
Graham
(Please note that I hold shares in UCG)
United Carpets (LON:UCG)
Share price: 8.6p (unch.)No.of shares: 81.4 millionMarket cap: £7 millionHalf-year Report
I thought I might briefly mention this chain of carpet stores as it’s something I’ve held a position in for a while, and it might be relevant to those of you interested in Carpetright (LON:CPR), SCS (LON:SCS) and others in this sector.
The market cap is very small here, only £7 million, and it’s a tiny company, so I’m certainly not suggesting that anybody else should buy shares in it.
Fortunately, the like-for-like revenue performance remained stubbornly resilient, up 2.9%. This is despite overall revenues falling, as the mix of stores became a little bit more heavily weighted towards franchisees rather than corporate-owned stores, compared to a year ago.
It earns a higher return on franchise stores, so that doesn’t bother me at all.
To support its growing online activities and the Beds operations, there was a slight increase in…