Specialist retailer Topps Tiles expects to report operating profit of between £10.5m and £14m – the range of analysts’ expectations – when it delivers full year results in November.

In its pre-close update, Topps Tiles said that overall sales are expected to come in about £186m, compared to £208.1m last year, and like-for-like sales are likely to be down by approximately 13.5%.

Chief executive Matt Williams said: “Whilst we remain cautious in our outlook for the economy, the business is proving its resilience by continuing to deliver profits in line with expectations and reducing net debt.

“The board is reassured by our current trading performance and we are seeing signs of stability in our market.”

Topics