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United Carpets revenue bounces back after stores reopen
StockMarketWire.com
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Flooring retailer United Carpets said its revenue had bounced back since it reopened its 56 stores on 22 May.
Like-for-like sales for the 19 weeks to 1 October had risen 24%, meaning the company had recovered much of the ground lost during lockdown, when stores were closed for just over eight weeks.
United Carpets said it had cash and cash equivalents at the end of September of around £5.4 million, of which £2.0 million related to the Coronavirus Business Interruption Loan, at nil cost for 12 months.
The company said it believed that it had sufficient capital to support the business through current challenges and was 'well placed in the event of any further restrictions due to the ongoing Covid-19 crisis'.
At 8:00am: (LON:UCG) United Carpets Group PLC share price was +0.25p at 3.5p
Story provided by StockMarketWire.com
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