25 March 2015
Topps Tiles Plc
Pre-close period Trading Update
Topps Tiles Plc (the "Group"), the UK's largest tile specialist, reports a trading update for the 26 week period ending 28 March 2015, prior to entering its close period. The Board will announce interim results for the period on 19 May 2015.
Total revenues for the 26 week period will be circa £104 million (2014: £97.7 million), a 6.4% increase year on year. Like-for-like revenues for the 26 week period will have increased by circa 5.2% (2013: up 10.2%).
Matthew Williams, Chief Executive Officer, said: "I am pleased to report that trading has been encouraging and we have delivered a like-for-like sales increase of 5.2% for the first half of our financial year. These trading results compare to a particularly strong period in the prior year and reflect a two year like-for-like growth in excess of 15%. Looking ahead, while experience tells us that the forthcoming UK general election may add some short term uncertainty to trading patterns, rising levels of disposable income should support increased consumer spending on home improvements. The Group is well positioned to continue to grow market share as we accelerate our plans to extend the appeal of the Topps brand."
The Group is currently trading from a total of 339 stores.
- Ends -
Enquiries:
Topps Tiles Plc | 0161 486 2400 |
Matthew Williams, Chief Executive Officer | |
Rob Parker, Chief Financial Officer | |
Citigate Dewe Rogerson | 020 7638 9571 |
Kevin Smith / Nick Hayns |
Note to editors
Topps Tiles Plc is the UK's largest specialist supplier of tiles and associated tools and accessories, targeting the UK domestic refurbishment market and serving a retail and trade customer base from 339 stores nationwide.
Since opening its first store in 1963, Topps has maintained a simple operating philosophy - inspiring customers with unrivalled product choice and providing exceptional levels of customer service.
This focus has established Topps as market leader in the UK, and underpins its successful strategy of taking profitable market share, which has increased from 22% in 2007 to 30.3% in 2014.
For further information, please visit www.toppstiles.co.uk/media-centre/investors.asp
This information is provided by RNS
