Monday, October 18, 2021

Topps Tiles delivers record sales

Topps Tiles, the Leicester-based tile specialist, is set to report record sales for the 53-week period ended 2 October 2021.

Group revenues in the 53-week period were approximately £227.5 million, or £222.5 million on a comparable 52-week basis – a record year of turnover for the group – rising from £192.8 million in FY20.

Supported by a buoyant home improvement market in the UK, Topps Tiles said this record performance is even more notable given that one quarter of the year included significant trading restrictions and a national lockdown.

Adjusted profit before tax is also now expected to be slightly above consensus forecasts for the financial year.

Rob Parker, CEO, said: “The Group has delivered an excellent final quarter and we have achieved a record level of annual revenue, despite operating with trading restrictions for significant parts of the year.

“These results are testament to the hard work and commitment of our colleagues, and I thank them again for their unwavering dedication and support. 

“Like-for-like sales were strongly ahead of 2019 in the final quarter but were also above the same period in 2020, when our sales bounced back strongly following the first national lockdown.

“This performance reflects a robust level of consumer demand but also underlines the strength of our growth strategy and the success of initiatives such as our improved value range and investment in our award-winning digital offer.

“We remain confident on the outlook, against a backdrop of strong demand for DIY products and continued investment into home improvements.”

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