Topps Tiles pre-close period Trading Update
Topps Tiles reports on trading for the 53 week period ending 2 October 2010, prior to entering its close period. The Board will announce preliminary results for the period on Tuesday 30 November 2010.
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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