Profits dip at Topps Tiles

RETAILER Topps Tiles has seen half-year earnings fall, blaming weak consumer confidence.

The group, which has its head office in Handforth, Cheshire, operates 309 stores nationwide.

In the 27 weeks to April 3, which covers the period when the group shut its Dutch operation, group revenue was £91.4m, up 2% on a like-for-like basis.

Profit before tax and discontinued operations was £7.8m, down from £8.7m. The company is not paying an interim dividend.

Chief executive Matthew Williams: “The economic environment remains challenging for retailers, with consumer confidence and discretionary spending continuing to show signs of weakness. 

“In light of this backdrop, our business has performed robustly; growing sales and continuing to keep a tight control on costs. As the market-leading brand with a distinct focus on outstanding customer service and value, we believe the business is well placed to benefit when consumer confidence returns.”