Tapi Carpets FY profits almost double to £15.9m

Tapi Carpets has reported that its operating profits rose to £15.9m in the year to 28 December 2024, almost double the £8.1m posted a year earlier, owing to new store openings and the acquisition of former Carpetright outlets. 

During the period sales increased by 33% to £227m, which was supported by Tapi’s investment in customer service and new product ranges. 

The retailer opened three stores during the year and launched 19 concessions in John Lewis shops, offsetting the closure of 14 sites within Homebase.

Tapi also moved to expand following the collapse of rival Carpetright in July 2024, paying £3.7m for stock and the leases of 54 stores. By September 2025, 42 of those branches had been converted to the Tapi brand.

Jeevan Karir, chief executive of Tapi Carpets, 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.

“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.” 

He added: “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 also maintains that the integration of Carpetright’s stores and intellectual property “had gone to plan” following last year’s acquisition.