Topps Tiles ‘well-placed’ after profits rise

Topps Tiles has posted growth in both revenue and profits for the year ending 1 October.

The Enderby-based tile giant saw revenue rise 4.2% to £215m with profits before tax up to £22m from £20.4m in 2015.

Matthew Williams, chief executive said: “I am pleased to report that Topps has delivered a strong performance for the year, with our unrivalled combination of range, inspiration and convenience resonating with more customers and driving sales to a new record. Sales growth, combined with gross margin improvements and strong cost controls, generated a 10% increase in profits and a 17% increase in dividend.

“Like for like sales in the first eight weeks of the new financial year were ahead by 0.8%. Our proven strategy, well-invested business and market leading position, leave Topps well-placed for further progress in the year ahead.”