Tapi on sustained growth path and returns to profit
October 3, 2024
The UK's last major flooring chain Tapi Carpets is growing strongly and has returned to profits, challenging against a "tough market".
Reporting its full-year figures for 2023, Tapi said sales rose 7.9% to £171m, resulting in operating profits of £8.1m compared to a loss in 2022 of £1.7m.
The figures precede the demise of Carpetright in July which is expected to be a boost for Tapi and not least because of the acquisition of 58 stores from Carpetright to add to the Tapi portfolio of 170+ outlets.
Jeevan Karir, MD of Tapi, said: “The market remains tough, and consumers are under pressure, but the Tapi proposition, combined with outstanding customer service, is winning through.
“Thanks to the commitment and dedication of our colleagues, we have delivered revenue growth and returned the business to profitability in 2023. Our progress has continued through the first half of 2024 as we remain focused on delivering for customers.”
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