Shares in Carpetright were up on the FTSE 250 in morning trading despite the group yesterday issuing a profit warning.

At the beginning of February the group issued a warning in which it said that rough trading conditions meant underlying pre-tax profit would be below that achieved last year, but ahead of that reached in 2009.

Yesterday the group said that difficult trading conditions had continued in Britain and Ireland, with fragile consumer confidence weakening demand in the floor coverings market.

As a result Carpetright said it expected underlying pre-tax profits to be similar to 2009 levels.

By 10:15 this morning shares in Carpetright were up 1.42 per cent on the FTSE 250 to 641.00 pence per share.