Topps Tiles has posted robust Christmas trading results, thanks to a boost in sales from trade professionals.
The tile retailer posted a 10.2% increase in group sales during the 13 weeks to December 31, with sales to trade customers “an area of particular strength”.
Topps Tiles’ like-for-like sales jumped 5.1% compared with last year, but total sales dropped 2% due to having fewer stores following its store closure programme.
The retailer felt a boost from its recent acquisition of construction equipment supplier Pro Tiler Tools, which it said had continued to grow at an “exceptional rate” with year-on-year sales up significantly.
It also said its ecommerce brand Tile Warehouse, which launched in May last year, is now through the start-up phase and it would look to drive traffic and achieve higher levels of conversion in the following year.
The group expects profitability to “be more second-half weighted than is usually the case” in 2023, as a result of various factors including an increase in gas expenses and the easing of supply chain costs as the year continues.
Chief executive Rob Parker said: “We are pleased with what has been a strong first quarter of the new financial year, with strong like-for-like sales growth in Topps Tiles of 5.1%, excellent performance from our recent acquisition, Pro Tiler Tools, and overall group sales up 10.2% compared with the same period last year.
“We remain mindful of the macroeconomic headwinds that may impact UK consumers and businesses in the forthcoming year, but the Group’s strong balance sheet, world-class customer service, specialist expertise and ambitious growth strategy gives us confidence that we will continue to deliver value over the medium term.”
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