Topps Tiles issued a pre-close statement this morning, for the 52 weeks to September 26, ahead of its preliminary results, which will not be released until November 24.
The company expects that overall revenue for the 12 months will be about £186m, a drop of £22m (almost 11%) compared with the previous year, with like-for-like sales down approximately 13.5%.

This, says the company, is within the range analysts' expectations, which predicted a pre-tax profit of between £10.5m and £14m.

The financial year has seen Topps Tiles close a total of 22 stores and dispose of one freehold property for a consideration of £1.25m making a £0.2m loss on the disposal.

Chief executive Matt Williams said: "Whilst we remain cautious in our outlook for the economy the business is proving its resilience by continuing to deliver profits in line with expectations ands reducing net debt.

"The board is reassured by our current trading performance and we are seeing signs of stability in our market."