Topps Tiles reports positive Q4 trading ahead of full year results
Tile retailer Topps Tiles has said it traded "positively" in its last quarter with like-for-like revenues estimated to have increased by 3.7%.
In a trading update issued this morning, the group said that revenues for the year to 29 September are expected to be in the region of £177 million, up from £175.5 million in the same period last year. Like-for-like revenues are expected to show a decrease of around 1% on the prior year.
The group anticipates its adjusted pre-tax profit for the 52 week period to be “broadly in line with consensus” which is between £12.7 million and £14 million.
Topps opened 13 new stores and closed or relocated eight in the year. This will take the total number of stores to 325 at the year end.
The group said there had been no significant or unexpected changes in its financial position since the publication of its interim report for the half year ended 30 March 2012.
Topps will announce its preliminary results for the 52 week period ending 29 September 2012 on 27 November.
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