Profits rise at Topps Tiles

Profit before tax fell to £18.7m in the six months ended 31 March 2007 from £20.3m the year before while sales for the period rose 14.9 per cent to £101.8m. Operating profit for the period rose 8.8 per cent to £21.3m. Property disposals in the period generated a gain of £282,000. Commenting on the results, Nick Ounstead, Chief Executive said 'Although the retail market continues to be tough, trading has been robust and we have delivered further revenue growth. We are on target with our UK store roll out programme and ahead of target in Holland. We have consolidated our market leading position and with a proven business strategy and a focused management team we are confident of continued progress in the second half of 2007.'