Essential reading for retailers and suppliers in the home improvement market

Topps reports increased revenue growth in tough market

Published: 27 November 2007
Topps Tiles saw its total group revenue increase 15.4% to £207.9m and like-for-like sales rise 4.7% in the year ended September 29, 2007.
Topps reports increased revenue growth in tough market
However, its profits fell following an interest charge stemming from a refinancing for its share buy-back.

Pre-tax profits were £37.8m (£39.1m in 2006) in a year which saw the company open 30 new stores in the UK to bring its total number of outlets to 321.

In Holland it is now trading from 20 outlets - five more than the same period last year.

The company has warned that financial market turmoil could hurt consumer spending, but maintained that prospecst for growth remain broadly positive.

Chief executive, Matt Williams, said: "This year marked the 10th anniversary of our listing on the London Stock Exchange and another year of strong results which, despite tough trading conditions, underlines the success of our strategy and brand."

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