Mixed results for Leicester tile specialist

Topps Tiles, the Leicester tile specialist, has witnessed a slip in total revenues but an increase in like-for-like revenues according to a trading update for the 26 week period ending 30 March 2019.

Total revenues for the 26 week period were £108.8 million (2018: £109.4 million).

Like-for-like revenues for the 26 week period increased by 0.2%.

Trading over the second quarter has improved from the levels reported in Q1, with like-for-like sales increasing by 1.8%. The firm estimates that the effect of weather conditions in the prior year and a later Easter this year has benefitted like-for-like sales over the quarter by around 1.6%. 

Matthew Williams, Chief Executive Officer, said: “Developing and reinforcing our specialism in tiles is at the heart of our growth strategy.  I am encouraged by our overall performance in the first half and believe the successful execution of this strategy is enabling us to outperform the overall tile market. Our commercial business is growing at pace and we remain open to opportunities to accelerate its expansion.”