Topps Tiles delivers “robust” half-year results

Topps Tiles, the Leicester-based home improvements giant, has increased both revenue and profits for the half-year ending 2 April.

Profit before tax rose by 13.2% to £10.3m on a turnover of £108m – up from £104m in 2015.

In a statement to the London Stock Exchange this morning, Topps said it had made a strong start to the second half of the year.

Matthew Williams, chief executive said: “Topps has delivered a robust first half performance as our successful strategy of ‘out-specialising the specialists. continues to generate profitable sales growth.

“Like-for-like sales grew by 4.7% in the period as initiatives to upgrade and rebrand our stores led more customers to reappraise the Topps brand and shop with us for the first time.

“Further improvements are in development and will be rolled-out in the remainder of the year and beyond.

“The Group has made a strong start to the second half, with like-for-like sales growth of 8.4%5 in the first seven weeks of the period.

“We are confident our plans to extend the appeal of the Topps brand have significant further potential and are excited about the opportunities ahead.”