Topps Tiles reports improved trading
Topps Tiles has said it expects adjusted revenues for its full year to be in the region of £215 million compared to £211.8 million in the previous year.
While like-for-like revenues were flat in the 52 weeks to 29 September, there was an uplift of 1.2% in the final 13 weeks of the period following an improvement in trading.
As a result, Topps now expects adjusted pre-tax profits for its full year to be slightly ahead of the top end of its current range of market expectations.
Matthew Williams, Topps Tiles chief executive, said: “I am pleased to report an improvement in trading over the final quarter which has enabled the group to post a full year sales result which is slightly ahead of the top end of market expectations and which represents an outperformance of the overall tile market.
“Our core Topps Tiles business is a well invested, cash generative market leader with a proven strategy and we continue to make good progress with our expansion into the commercial segment of the UK tile market which will be an important source of future growth for the group.”
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