Pre-close period Trading Update for Topps Tiles Plc
Overall revenues are expected to be down when the Board announces preliminary results for the period on Tuesday 29 November 2011.
Overall UK revenues for the 52 week period ending 1st October 2011,prior to its close period, are expected to be in the region of £175.7 million (2010: £182.4 million). When restated on a same reporting week basis the total revenues will be approximately 1.7% below the prior year. Like-for-like revenues are expected to show a decrease of 1.9% (2010: increase of 1.7%).
The Board expects adjusted pre-tax profit for the 52 week period to be within the range of analysts' estimates of £12.9 million with a consensus estimate of £13.4 million.
The Group will end the year with a total of 320 stores in the UK, having opened 15 during the financial period and closed or relocated 7 during the same period.
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