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Topps Tiles delivers another record year as momentum builds in second half
(Sharecast News) - Tile retailer Topps Tiles said its strong trading performance continued throughout the second half, with revenues reaching a record high in four out of the past five years. The company, which appointed a new chief executive (Alex Jensen) just last month, said in a pre-close trading update on Wednesday that revenues over the 52 weeks to 27 September were up 6.8% at £265m.
Including the CTD brand, which was acquired earlier this year, group sales were 17.7% higher at £296m.
Each division (Topps Tiles, Parkside, Online Pure Play and CTD) reported sequential growth in the second half, with like-for-like sales growth at Topps in particular rising from 3.0% to 7.7%.
Margins have also improved in the second half, though additional costs related to increases in the National Living Wage and National Insurance Contributions - which took effect in April - along with increases in performance-related pay, mean adjusted profits should be in line with the consensus forecast range of £8.3m-9.2m.
"Overall, the group's improving trading momentum, strategic progress and strong balance sheet leave it well positioned to continue to grow sales and profit into 2026," Topps said.
Shares were up 5% at 36.85p in early deals in London.
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