Earnings at floorcoverings retail franchise Carpets 4 Less declined in the year to end January despite sales revenue being maintained.

Profit before tax at the franchisor (Carpets 4 Less No.1) company dropped 42 per cent to £186,731 despite turnover rising to £9.2m (2014: £8.6m).

Those figures include £4.1m in direct sales (2014: £3.4m) and franchise supplies of £4.4m (2014: £4.6m). Network sales—including those achieved by its franchisees and more indicative of a standard retail business—were flat at £13m, the company said.

Profits were down primarily because of rising administrative expenses and a drop in other income, which fell over £500,000 to £1.9m.

Year-end cash at the privately owned business climbed to £937,540 (2014: £656,539). Carpets 4 Less lists 24 current trading sites on its websites with most of its shops in southern England.