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Positive Q4 trading figures from Topps Tiles

Specialist tile retailer Topps Tiles said it has traded positively in the final quarter, with revenues estimated to have increased by 3.7% on a like for like basis.

The company expects adjusted pretax profit for the year will be broadly in line with consensus.

Revenues for the 52 week period to end-September are expected to be in the region of £177m (2011: £175.5m), growing by c.1% year on year. Like-for-like revenues are expected to show a decrease of c.1% on the prior year (2011: decrease of 2%).

The Group will end the year with a total of 325 stores in the UK, having opened 13 stores and closed or relocated 8 during the period.

During the period the Group completed the disposal of a freehold property for a consideration of £3.1m.

There have been no significant or unexpected changes in the financial position of the Group since the publication of the Interim Report for the half year ended 30th March 2012.

Topps will announce its preliminary results for the year ending 29th September 2012 on Tuesday 27th November 2012.

The current range of analysts' estimates for adjusted pre-tax profit for the 52 week period ending 29th September 2012 is £12.7m to £14m, with a consensus of £13.1m.

Source : via The Telegraph

26 September 2012
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