Topps profits on target, despite revenue fall

RETAILER Topps Tiles has said pre-tax profits will be within expectations at around £13m, despite like for like revenues being down almost 2% for the year.

The Handforth-based chain, which specialises in tile and wood flooring, said trading for the year to October 1 would show total revenues down by 1.7% to £175.7m.on a same reporting week basis with like for like revenues decreasing by 1.9%.

It added that adjusted pre-tax profits would be within analyst expectations of between £12.9m and £13.4m.

Topps will end the year with a total of 320 stores in the UK, having opened 15 during the financial period and closed or relocated seven.

The preliminary results will be announced on November 29.