Topps Tiles Plc
Pre-close period Trading Update
Topps Tiles Plc (the "Group"), the UK's largest tile and wood flooring specialist, reports on trading for the 53 week period ending 2 October 2010, prior to entering its close period. The Board will announce preliminary results for the period on Tuesday 30 November 2010.
We expect to report that overall UK revenues for the 53 week period will be in the region of £182.4 million (2009: £178.81 million), a 2.0% increase. When restated on a same reporting week basis the total revenues will be broadly flat compared to the prior year. Like-for-like revenues from UK stores are expected to show an increase of 1.7% (2009: decrease of 13.1%).
Quarter 4 revenues are expected to have increased by c.3.1% compared to quarter 4 2009, with like-for-like revenues increasing by c.4.0%.
The Board expects adjusted pre-tax profit for the 53 week period to be within the range of analysts' estimates 2.
The Group is currently trading from a total of 313 stores in the UK, having opened 12 during the financial period and closed or relocated 8 during the same period
There have been no significant unexpected changes in the financial position of the Group since the publication of the Interim Report for the half year ended 3 April 2010.
Notes:
1 Adjusted to reflect UK only sales
2 The current range of analysts' estimates for adjusted pre-tax profits for the 53 week period ending 2 October 2010 is between £14.5 million and £17.1 million.
Enquiries:
Emma Kent / Duncan Mayall
Pelham Bell Pottinger 020 7861 3232
Matthew Williams, Chief Executive Officer
Rob Parker, Finance Director 0161 486 2400
This information is provided by RNS
