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The Markets
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Proactive UK has moved.
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The Markets
by Proactive
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The Markets
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Proactive UK has moved.
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Retail

Topps Tiles grows market share

Topps Tiles said it continues to make progress with its strategy of "out-specialising the specialist".

Tile specialist Topps Tiles (LON:TPT) continued to grow market share in the third quarter of its financial year.

Like-for-like revenues (LFL) in the 13 weeks ended 27 June 2015 were up 5.9% from a year ago, when LFL revenues were, in turn, up 6.3% year-on-year.

Management said it remains comfortable with current market expectations for the year as a whole, which are for pre-tax profits of £17.06mln on flat sales of £195.24mln.

"Trading in the third quarter has been encouraging, with like for like sales growth at 5.9%, building on the positive trend we reported for the first half,” said Matthew Williams, chief executive officer of Topps.

“With our plans to extend the appeal of the Topps brand well underway, we remain well-positioned to continue to grow our market share in the remainder of the year,” he added.

The shares were down a penny at 143.5p in mid-morning trading.

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