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Topps Tiles expects half year LFL sales to have increased by c.5.2%

Topps Tiles Wimbledon Village

Topps Tiles Plc (the “Group”), the UK’s largest tile specialist, reports a trading update for the 26 week period ending 28 March 2015, prior to entering its close period. The Board will announce interim results for the period on 19 May 2015.

Total revenues for the 26 week period will be circa £104 million (2014: £97.7 million), a 6.4% increase year on year. Like-for-like revenues for the 26 week period will have increased by circa 5.2% (2013: up 10.2%).

Matthew Williams, Chief Executive Officer, said: “I am pleased to report that trading has been encouraging and we have delivered a like-for-like sales increase of 5.2% for the first half of our financial year. These trading results compare to a particularly strong period in the prior year and reflect a two year like-for-like growth in excess of 15%. Looking ahead, while experience tells us that the forthcoming UK general election may add some short term uncertainty to trading patterns, rising levels of disposable income should support increased consumer spending on home improvements. The Group is well positioned to continue to grow market share as we accelerate our plans to extend the appeal of the Topps brand.”

The Group is currently trading from a total of 339 stores.

Source : Topps Tiles Press Release

25 March 2015

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