Topps Tiles expects ‘modest’ profit as sales recover

The flooring specialist hailed “robust” trading in its final quarter to date, with sales jumping 13% in the six weeks to August 8.

On a like-for-like basis, retail revenues were up 16% compared with the same period last year amid “strong” demand for home improvement.

Topps Tiles said its retail performance during the last six weeks, coupled with order volumes that are “significantly ahead” of last year, left it well placed to deliver a profit in the year ending September 26. 

However, it cautioned that “uncertainty related to Covid-19 persists” and said it was “difficult to assess the outlook beyond the short term”.  

Topps Tiles boss Rob Parker said: “I am pleased with how well the business has navigated the crisis to date and feel that we are well positioned for whatever comes next.” 

He added: “Our response to the pandemic has strengthened the business and fundamentally improved our liquidity position, providing further flexibility and putting us in a strong position both to benefit from the recovery in our markets and to meet any future challenges.”