Topps Tiles confirmed that it had achieved record-breaking sales as it released its full-year results this week.
In the 12 months to October 3 2015 the retailer also achieved its goal of taking £1 in every £3 spent in the UK domestic tile market, an ambition met one year early and marking the seventh consecutive year of market share gains.

Group revenue rose to £212.2m from £195.2m the previous year, with like-for-like revenue up 5.4%. The company said that 9.3% of tile revenue had been generated from ranges launched in the last 12 months.

Trade sales increased to 50% of the total, up from 46% in 2014, driven by growth of the trade loyalty programme and the trend for "do it for me".

Pre-tax profit was up 19.3% from £17.1m to £20.4m, while gross margin rose from 60.9% to 61.2%, reflecting further sourcing gains and the focus on a differentiated product offer.

Topps said that a host of initiatives to extend the appeal of the Topps brand were underway, including a
programme of improvements inspired by the successful Boutique format, to introduce new branding, display and merchandising treatments across the entire Topps estate.

The group opened 19 new stores during the period but closed nine and is now trading from 346 outlets.

Over 70% of Topps' customers use its website at some point in their purchasing journey, as well as making numerous trips to a store. The company said it therefore believes that the 'pure play' online market for tiles remains very small, and that its ability to combine its website offer with the advice and convenience available in store gives it a significant competitive advantage over any pure play online tile retailer.

Commenting on the results, chief executive Matthew Williams said: "Topps delivered a strong performance for the year, with our focus on convenience, inspiration and range driving sales to a new record and enabling us to hit our strategic goal of a one third share of the domestic tile market a year ahead of schedule.

"Our strategy of 'out-specialising the specialists' continues to be very effective and will remain at the heart of what we do as we seek to build on these foundations and target further profitable sales growth."

He went on: "We have made an encouraging start to the new financial year, with like-for-like sales in the first eight weeks ahead by 3.3%, in line with our expectations.

"The group has entered the period in good shape and with a clear purpose, and we remain energised by the multiple growth opportunities open to the business in the years ahead."