Topps Tiles Posts Record Year Of Sales; Acquires Fired Earth

Topps Tiles Plc ("Topps Group", the “Company" or the “Group”), the UK's leading tile specialist, announces its unaudited consolidated annual financial results for the 52 weeks ended 27 September 2025.

Strategic and Operational Highlights

• Market beating performance with clear progress towards our goal of ‘Mission 365’ – new record year of sales at £295.8 million and 40% of revenue growth goal achieved
  
  
• Strong strategic progress against five key areas of growth – category expansion, Topps Tiles trader digital experience, business-to-business, Pro Tiler, and Tile Warehouse
  
  
• Trade growth of 28.3% year-on-year (+14.3% excluding CTD), trade sales now approximately 75% of Group sales
  
  
• Group digital penetration (excluding CTD) of 21.1%, up from 18.5% in FY24
  
  
• CTD - CMA investigation concluded, requirement to dispose of four stores – three complete with one imminent, 22 stores remaining, operations fully integrated, growth plans developed and business to move into profit in FY26
  
  
• The Group has acquired the Fired Earth brand, IP, website and an estimated £2.5 million of stock for a consideration of £3 million in November 2025, adding a complementary premium brand to the Group
  
  
• New CEO, Alex Jensen, to assume full responsibility on 8 December, as current CEO Rob Parker retires from the business. 
  
  
• CFO appointment - Caroline Browne joining in spring 2026.  Currently Group Finance & Investor Relations Director at Watches of Switzerland Group Plc. Previous roles include Group Financial Controller at Next Plc and senior finance positions at Boots.

Financial Highlights

• Adjusted revenue¹ up 6.8% to £265.4 million, with each part of the business delivering growth
  
  
• Adjusted profit before tax¹ up 46.0% at £9.2 million, with adjusted* EPS¹ up 43.5% to 3.43 pence per share
  
  
• Final dividend proposed of 2.1 pence, full year of 2.9 pence, representing a payout ratio of 85% of adjusted EPS, a 20.8% increase YoY
  
  
• Dividend supported by robust balance sheet with adjusted net cash of £7.4m at the period end, and £30 million banking facility committed until October 2027
  
  
• Statutory revenue up 17.5% to £295.8 million, including sales of £30.3 million from CTD
  
  
• Statutory profit before tax £8.3 million (FY24: loss before tax of £16.2 million) including CTD related costs, a material write back of IFRS 16 related impairments and management transition costs

Current Trading and Outlook 

Group sales growth in first nine weeks (excl. CTD) are up 3.3% year-on-year with Topps Tiles like-for-like sales up 2.0%.  CTD stores are delivering consistent LFL growth and we are confident in delivering a profit in CTD for FY26. 

Sales growth over the first nine weeks of the new financial year have moderated due to weaker consumer confidence.  As an established market leader the business is well positioned and we remain confident in our growth strategy and goal of Mission 365.  

The Group is pleased to announce the successful acquisition of the Fired Earth brand, associated IP, website and a provisional £2.5 million of stock, for a total cash consideration of £3 million in November 2025.  The Fired Earth brand represents a significant opportunity for the Group, strengthening our digital presence and adding a premium brand to our homeowner and trade customer offering.   

Commenting on the results, Rob Parker, Chief Executive said:

“In what will be my final year with the business I am pleased to deliver a strong set of financial results and strategic progress.  The business has delivered a new record year of sales, combined with a strong increase in profits and dividends.  Our strategy and growth plans are working well and we are making excellent progress towards our Mission 365 goal.  I wish my successor, Alex Jensen, the very best as she takes the Group on to the next stage of our exciting growth plans.”  

Alex Jensen, Chief Executive Designate, added:

“This is a very encouraging set of results, and the team worked hard to ensure each business delivered strongly against the prior year.  I am grateful to Rob for the foundations he’s laid down and I look forward to working with the team to build on this progress, accelerate our digital momentum, and harness the team’s expertise to maximise value for all stakeholders.  I’m excited to bring the Fired Earth brand into our portfolio to further accelerate delivery of our Mission 365 goal. I’m also delighted that Caroline Browne has been appointed as the Group’s new CFO.  Caroline’s extensive retail experience and proven ability will be invaluable as we continue to execute our growth strategy and strengthen our market position.” 

Click here to view the full release which provides a detailed explanation of Topps Tiles' performance throughout the 2025 financial year, and its plans for the future.  

Notes

1 Adjusted revenue, gross margin %, operating profit, profit before tax and earnings per share exclude the impact of items which are either one-off in nature or fluctuate significantly from year to year.  The performance of CTD has been excluded from adjusted metrics due to disruption caused by the CMA investigation.  Refer to the financial review section of this document for more details on each of these measures. 

2 Topps Tiles like-for-like revenue is defined as revenue from Topps Tiles stores that have been trading for more than 52 weeks and revenue transacted through Topps Tiles’ digital channels.

3 Adjusted net cash is defined as cash and cash equivalents, less bank loans, before unamortised issue costs as at the balance sheet date. It excludes lease liabilities arising from IFRS 16.

Source : Topps Tiles

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