Cheadle’s Topps Tiles cautiously optimistic after 9% revenue increase

Topps Tiles Plc a Greater Manchester tile and wood flooring specialist, announced revenue growth of 9.3% across the first 13 weeks of the current financial year increased by 9.3%.

In the same period in 2012, sales were up 1.6%.

Topps ended the quarter with a total of 328 stores.

Matthew Williams, Chief Executive Officer, said: “Topps traded strongly over the first quarter, with an acceleration in like for like sales growth over the final month of the period.

“Whilst we are encouraged by this and remain optimistic about prospects for 2014, at this early stage in the year we remain cautious of projecting forward this level of performance. Trading over the second quarter will be key in this regard.”

Topps will hold its Annual General Meeting on 24 January 2014, no further update on trading will be given at this point.

The Company will announce a trading update for the 26 weeks ended 29 March 2014 on 26 March 2013, prior to entering its close period.