Tile retailer on Topp form

TOPPS Tiles said it is continuing to benefit from favourable market conditions as it revealed a 6.3% hike in like-for-like sales in the third quarter.

The Handforth-based retailer which trades from 330 stores nationwide, said following its update for the 13 weeks to June 28, it is confident for the remainder of the financial year.

Chief executive Matthew Williams said: “We firmly believe that Topps is continuing to grow ahead of the overall tile market.  

“Whilst consumer sentiment remains favourable, this performance primarily reflects the focus we have placed on profitable market share gains, with Topps’ authoritative range, outstanding service, multichannel convenience and value for money offering a compelling proposition to customers.

“We remain optimistic about trading conditions for the remainder of the year.”

Topps said it had completed the refinancing of its £65m loan facilities through to May 2019. In May it posted a hike in first half profits from £4.7m to £8m.