UK flooring specialist Tapi Carpets has reported a 33 percent increase in sales and a near doubling of operating profit in its latest financial year, marking its second consecutive year of profitability. For the year ending 28 December 2024, the company's operating profit rose from £8.1m to £15.9m, while total sales reached £227m, driven by organic growth and strategic expansion following its acquisition of Carpetright in 2024.
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The acquisition included the Carpetright brand, intellectual property, and 54 stores, purchased for £3.7m. Tapi has successfully integrated these outlets, including the conversion of 42 Carpetright locations to Tapi stores.
Tapi Carpets CEO Jeevan Karir said:
"We achieved strong organic growth during 2024 in a challenging market. Continued investment into new stores, ongoing improvements to our flooring ranges, combined with a deep focus on our end-to-end customer experience and great value, is enabling Tapi to outperform the wider market."
The company also launched concessions in 19 John Lewis department stores, offsetting the closure of 14 Homebase concessions, and opened three additional stores in Clacton, Dalston, and Old Kent Road, alongside one site relocation.
Karir added:
"Looking ahead, I'm proud of what the team has achieved so far in 2025, with 42 Carpetright to Tapi conversions now completed along with 19 concessions with our new partner, John Lewis, giving us nationwide coverage across mainland UK. I'm confident we'll deliver another year of significant profitable growth despite £2.3m of higher annual employment costs resulting from the budget."
Tapi's strong performance highlights the company's strategy of combining organic growth, customer experience investment, and targeted acquisitions to strengthen its national footprint and competitiveness in the UK flooring market.
Source: www.retailgazette.co.uk
