Carpetright sees profits jump 64% - graduate jobs

Graduates looking for jobs in the retail industry might be interested to learn that Carpetright has reported a 64% jump in profits after seeing a return to sales growth in the UK.

The flooring firm's sales increased 3.1% on a like-for-like basis across its 586 stores in the UK and Ireland.

However underlying profits were nearly half of the £62.1m the firm made in 2008, standing at £28.2m for the 12 months to May 1.

Carpetright's sales staged a marked recovery early last year - reaching double digit growth before December.

Chairman and chief executive Lord Harris - a retail veteran with more than 50 years in the business - said it would be a "very tough" year for consumer spending amid Government cuts and tax hikes.

He said the group would push further to secure contracts with insurance firms and with housebuilding groups to offset weak retail conditions.

It is also striking deals in the public sector, offering discounts to the police service and health workers in an attempt to tap into a vast customer base.

Carpetright is likewise linking up with estate agency Countrywide to offer promotional schemes to customers.