Topps Tiles pre-close period Trading Update
The company expects to report that overall UK revenues for the 53 week period will be in the region of £182.4 million (2009: £178.8 million), a 2.0% increase - adjusted to reflect UK only sales.
When restated on a same reporting week basis the total revenues will be broadly flat compared to the prior year. Like-for-like revenues from UK stores are expected to show an increase of 1.7% (2009: decrease of 13.1%).
Quarter 4 revenues are expected to have increased by c.3.1% compared to quarter 4 2009, with like-for-like revenues increasing by c.4.0%.
The Board expects adjusted pre-tax profit for the 53 week period to be within the range of analysts' estimates which are currently between £14.5 million and £17.1 million.
The Group is currently trading from a total of 313 stores in the UK, having opened 12 during the financial period and closed or relocated 8 during the same period.
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