Home improvements bolster performance at Topps Tiles
Strong lockdown demand for home improvement products has helped Topps Tiles achieve record annual sales.
Higher than expected profits were generated by the company registering £227.5m in income, its best ever take.
Rob Parker, chief executive, said: “We remain confident on the outlook, against a backdrop of strong demand for DIY products and continued investment into home improvements.”
Demand for DIY and home renovation products took off at the height of the pandemic, driven by Brits waiting to make lockdown more palatable.
Analysts expect profits to be between £13.2m and £14m.
“Like-for-like sales were strongly ahead of 2019 in the final quarter but were also above the same period in 2020, when our sales bounced back strongly following the first national lockdown,” Parker added.
“This performance reflects a robust level of consumer demand but also underlines the strength of our growth strategy and the success of initiatives such as our improved value range and investment in our award-winning digital offer. We remain confident on the outlook, against a backdrop of strong demand for DIY products and continued investment into home improvements.”
