Topps Tiles delivers ‘robust’ trading as quarterly sales rise

Topps Tiles reported group sales in the period rose 4.4% and were ahead 7.6% in total in the year to date.

Performance at the core business was “robust” as like for likes rose 2.5% over the quarter and 3.7% in the year to date.

The group’s pureplay businesses, Pro Tiler Tools and Tile Warehouse, were said to have achieved an “excellent” performance. They delivered sales growth of approximately 60%, “led by Pro Tiler Tools”.

Commercial division Parkside, which had suffered weak trading and where a cost reduction programme was implemented, “is now right sized for current market conditions”.

Topps Tiles was confident that adjusted profit before tax in the second half will be “materially higher” than in the first half and that it would perform in line with market expectations for the full year.

Chief executive Rob Parker said: “As we celebrate our 60th anniversary, we are pleased to be reporting a continued robust performance in the third quarter.

“Looking ahead, we are confident that our core strengths of leading brands, world-class customer service, specialist expertise and a strong balance sheet will enable us to continue to deliver value for all stakeholders.”