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Topps Tiles reports 6% increase in Q1 LFL sales

ToppsTiles new store

Topps Tiles Plc ("Topps" or the "Company"), the UK's largest tile specialist, announces a trading update for the 13 weeks ended 27 December 2014.

Like-for-like revenues across the first 13 weeks of the current financial year increased by 6.0% (2013: up 9.3%).

Topps ended the quarter with a total of 336 stores.

There have been no significant or unexpected changes in the financial position of the Company since the publication of the Annual Financial Report for the 52 weeks ended 27 September 2014.

Matthew Williams, Chief Executive Officer, said: "I am delighted to report an encouraging start to our financial year with like-for-like sales growth of 6.0% in the first quarter. This is particularly pleasing as it builds on our strong sales growth in the corresponding period in the prior year. We are confident that our plan for 2015 will see us further extend the appeal of the Topps brand and move closer to our strategic goal of taking a one third share of the domestic tile market."

Topps will hold its Annual General Meeting on 22 January 2015, no further update on trading will be given at this point.

The Company will announce a trading update for the 26 weeks ended 28 March 2015 on 25 March 2015, prior to entering its close period.

Source: Topps Tiles

07 January 2015

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