Topps’ form continues with sales rise
TOPPS Tiles, the retailer says half year revenues will show strong growth, with like-for-like sales up 5.2%.
The company which has an operational base in Handforth near Stockport said while the forthcoming general election may cause some uncertainty in trading patterns, rising levels of consumer spending on DIY and home improvement projects were a positive.
Topps, which opened its first store in 1963 in Sale south Manchester and is now the largest player in the market with 339 stores nationwide and 30% of the tiling market, said sales in the 26 weeks to March 28 will be around £104m, up from £97.7m in 2014.
Total revenues, including new stores, will therefore be 6.4% oon last year.
Matthew Williams, chief executive Officer, said: “I am pleased to report that trading has been encouraging and we have delivered a like-for-like sales increase of 5.2% for the first half of our financial year.
“These trading results compare to a particularly strong period in the prior year and reflect a two year like-for-like growth in excess of 15%. Looking ahead, while experience tells us that the forthcoming UK general election may add some short term uncertainty to trading patterns, rising levels of disposable income should support increased consumer spending on home improvements.
“The group is well positioned to continue to grow market share as we accelerate our plans to extend the appeal of the Topps brand.”
Topps said it would report its iterim results on May 19.
