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Topps Tiles reports 9.3% rise in LFL sales during Q1

Topps Tiles Plc (the "Company"), the UK's largest tile and wood flooring specialist, announces a trading update for the 13 weeks ended 28 December 2013.

Like-for-like revenues across the first 13 weeks of the current financial year increased by 9.3% (2012: up 1.6%).

Topps ended the quarter with a total of 328 stores.

There have been no significant or unexpected changes in the financial position of the Group since the publication of the Annual Financial Report for the 52 weeks ended 28 September 2013.

Matthew Williams, Chief Executive Officer, said: "Topps traded strongly over the first quarter, with an acceleration in like for like sales growth over the final month of the period. Whilst we are encouraged by this and remain optimistic about prospects for 2014, at this early stage in the year we remain cautious of projecting forward this level of performance. Trading over the second quarter will be key in this regard."

Topps will hold its Annual General Meeting on 24 January 2014, no further update on trading will be given at this point.

Source : Topps Tiles PLC

07 January 2014
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