Topps Tiles sees higher profits after "excellent" year

24th Sep 2014 07:56

Tiling retailer Topps Tiles forecast higher sales and profits after what it described as an excellent year's trading. Topps said revenue in the year to 26 September should be about £195m against £177.8m a year ago. Like-for-like revenues are expected to increase about 8% on the prior year, when they fell 0.5%.The company expects adjusted pre-tax profit to increase 30% to about £17m.Topps has 335 stores, having opened 16 stores and closed or relocated 9 during the year.Chief executive Matthew Williams said: "Our relentless focus on growing profitable market share continues to be the successful driver of our business. We are confident we can make further progress, in this respect, during the year ahead."Shares in Topps rose 4p, or 3.7%, to 113p at 08:12 in London.