Expansion will continue
Ceramics specialist Topps Tiles increased sales by 1.2 per cent to£88.57 million in the 26 weeks to April 1, but like-for-like revenue dropped 4 per cent.

Profit before tax, excluding property disposals, held steady at£20.01 million compared with£20.0 million last year.

The retailer said that early trading in the second half was encouraging.

In the first half of the year, 14 stores opened and a further 10 stores are planned for this financial period. The retailer trades from 258 Topps Tiles and 41 Tile Clearing House stores.

Chief executive Nick Ounstead said: 'Despite the consistently tough environment, trading has continued to be robust, reflecting the resilience of our business model.'

Topps is updating its store layout and format, but also plans to introduce a new layout in selected stores that will include updated point-of-sale displays.

Ounstead said: 'We now trade from 13 stores with our joint venture in Holland, which continues to trade profitably.

'It sells a combination of ceramic tiles and wood and laminate flooring and we plan to open a further two stores before the year end.'

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