Robust sales keep Topps on course

BRITAIN’s largest tile and wood-flooring retailer today reported robust third-quarter sales and said it remained comfortable with market expectations for the full year.

Topps Tiles, which has 322 stores across the UK, said like-for-like sales rose 2.1 per cent during the 13 weeks to 30 June, compared with a 1.9 per cent fall for the same period last year.

The improvement came during the wettest April-to-June period on record, which benefited the retailer as its customers were more willing to work on DIY projects.

Analysts have pencilled in an adjusted pre-tax profit of around £13 million for the year to 30 September, down from £13.9m last year.

Shares in the Leicester-based group ended the day at 40p, an increase of 1.25p or 3.2 per cent.