skip to main content
  • *
  • *
Find Insight DIY on
* * *

UK DIY News

Topps Tiles sales expected to fall

Tile and flooring outlet Topps Tiles is set to report a 1.7pc fall in revenue but pre-tax profits are expected to meet forecasts.

The DIY specialist group, which has 320 stores across the UK, is due to post overall sales of £175.7m for 52 weeks, down from £182.4m in 2010.

Like-for-like revenues are also expected to show a 1.9pc fall when the company announces its preliminary results at the end of November.

In a trading update that comes a month after Topps Tiles issued a profit warning, the company said pre-tax profit was likely to be in line with estimates ranging from £12.9m to £13.4m.

It added there were "no significant unexpected changes" in the group's finances since its interim report in April.

Despite tough market conditions hitting the housing sector, Topps opened 15 new stores and closed or moved seven in the last year.

But analysts said any improvement in trading was unlikely.

Freddie George, retail analyst at Seymour Pierce, said: "The housing market is expected to remain subdued; there is limited scope for cost savings and for DIY in particular, the home stores being developed by the multiples provide a competitive threat."

Source : Donna Bowater – The Telegraph
www.telegraph.co.uk/finance/newsbysector/epic/tpt/8791380/Topps-Tiles-sales-expected-to-fall.html

27 September 2011
view more UK DIY News
*

Insight provides a host of information I need on many of our company’s largest customers. I use this information regularly with my team, both at a local level as well as with our other international operations. It’s extremely useful when sharing market intelligence information with our corporate office.

*
Paul Boyce - European CEO, QEP Ltd.
Newsletters

Don't miss out on all the latest, breaking news from the DIY industry