Essential reading for retailers and suppliers in the home improvement market

Pressure in housing market to affect Topps

Published: 27 May 2008
Analysts forecast drop in profits.
Topps Tiles is expected to report a three per cent fall in first-half profits tomorrow, according to analysts at the broker Dresdner Kleinwort.

For the six months to March 30, the analysts at the City investment house are predicting pre-tax profit of £17.7m, down from £18.3m in the previous corresponding period.

While analyst Andrew Wade of Seymour Pierce says the rising pressure on the housing sector will lead to further dips in performance following the company's first-half trading update.

He supports this by highlighting a deceleration in Topps Tiles' UK like-for-like sales growth of 0.5% in 1H, and a decline in like-for-like sales in Holland in 2Q.

However, analyst Philip Dorgan of Panmure Gordon maintains a more positive stance than the other two.

In a research note published today, he says Topps Tiles' interim results are expected to exhibit 'resilience'.

Although, he adds that Topps is likely to have taken interest charges of £2 million associated with a marked-to-market adjustment on hedging, which is expected to result in the pre-tax profits declining from £18.7 million to £15.5 million in the period.

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?


As we near the end of another summer season, which product category do you expect to be the biggest seller as we head towards to autumn and winter?







Latest reader comments

re: A guide to construction safety for home builders

Daniel Wood
Safety should always be the first priority. If followed properly, these precautions are all we need to tackle all unwanted accidents. I ...

re: Further Homebase closures ahead

Shaun Collorick
Cheltenham homebase has closing down signs outside, but not Gloucester homebase.... Yet!...

re: B&Q sales slide, as Screwfix decision to exit German market costs millions

B&Q bob
No surprises from us on the shopfloor management paralysed by fear of jobs and to weak to take chances so bumble around. Ranges boring, and ...

re: Further Homebase closures ahead

Miss l'a tesha gc Wilson
Please keep me updated regards all Store closures Thank you...

re: Graham Bell to head up B&Q as part of Kingfisher reshuffle

Peter Earl
I HOPE GRAHAM BELL THE NEW CEO OF B&Q GETS TO GRIPS OF THE COMPANY VERY SOON.MY WIFE WENT FROM SHADOXHURST TO GILLINGHAM TO GET SOME ...

Most read stories