Published on 5 - August - 2009
Topps Tiles sees 9.9% revenue dropTile and flooring specialist reports a further sales fall of 0.3% on half-year results, following the release of its latest interim management statement.
Topps Tiles Plc's interim management statement for the 18 weeks ended August 1, 2009 revealed that overall revenue was down 9.9%, with like-for-like (lf) revenue, seeing a decline of 10.9%, compared with an 8% drop in 2008.
The interim management statement read: "Although trading conditions in the first 18 weeks of our new financial period remain challenging, reflecting the ongoing weakness in consumer confidence, the group is on track to meet management's expectations for the full year."
The Leicester-based company's half year results, announced on May 27, showed a revenue decline of 9.6% for the seven week period, with lfl revenue was down 11.9%.
Topps Tiles operates 312 stores in the UK. The company has opened five new stores and closed or relocated 13 branches during this financial year.
Topps also trades form 13 stores in Holland, having closed 9 since the end of March.
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