Topps Tiles struggle on against "headwinds"

Cheadle’s Topps Tiles say revenues are broadly flat and the business has struggled to marginally improve on profits.

Revenues for the 52 week period are expected to be level with the prior year £177.7m.

The Topps board expects adjusted pre-tax profit for the 52 week period will be in the region of £13.0m, last year it was £12.8m.

The Group is currently trading from 328 stores, having opened 18 stores and closed or relocated 15 during the year.

Matthew Williams, CEO, said: “In the face of some trading headwinds across the year we implemented a range of self-help measures which enabled us to take market share and deliver a modest increase in profit year on year.

“After the declines seen in the second and third quarters, sales over the final three months of our financial year have been broadly level on a like for like basis which provides encouragement for the year ahead. The economy is starting to show signs of a gradual recovery and our business is well positioned to capitalise on any improvements in consumer confidence and increased levels of discretionary expenditure.”