Topps Tiles fears revenue fall

Published on Thursday 27 March 2008 09:15

TOPPS Tiles, the UK's largest tiles and wood-flooring specialist, said it expects like-for-like revenue to fall by around 0.5 per cent in the 26 weeks to the end of March.

The firm said that the current retail environment has continued to be very challenging, although the UK business is expected to see a four per cent increase in profits.

Gross margins for the group over the first half are more likely to be broadly in line with its 2006/07 full-year margin. Matt Williams, the firm's chief executive, said: "The negative economic backdrop is translating into an increasingly challenging consumer market and the board does not envisage the environment changing in the short term.

"We are, however, pleased with the resilience the business has shown over the last few months and we are confident the business model remains robust."