Final Results

TOPPS TILES PLC
27 July 1999


                            TOPPS  TILES  Plc
               The UK's largest, specialist tile retailer

           Financial Results for the period ended 29 May 1999


                               Highlights

*   Turnover:  £43.0 million (1998: £31.3m)                37% increase

*   Profit before tax:  £5.83 million (1998: £4.13m)       41% increase

*   Earnings per share: 9.9p                               39% increase
    (1998: 7.1p adjusted for share split)                                     
                        

*   Final net dividend of 2.51p per share.  Total net dividend for the year
    3.23p

*   Gross margin of 55.5% (1998: 52.4%)

*   Like for like sales growth of 7%

*   Acquisition of 20 ex Tile City stores in December 1998

*   20 new stores opened during the year

Commenting on the results, Barry Bester, Chief Executive said:

'Despite  the  widely  documented slow down  in  the  retail  sector  we  have
continued to trade well and I am delighted to announce another successful year
for  Topps.  Once again, we exceeded our store opening target, in addition  to
which,  in  December, we acquired 20 stores which previously  traded  as  Tile
City.

Trading in the first seven weeks of the current year has been strong with like
for like sales of over 9% and we are confident of continuing our progress this
year.'

Enquiries:

Barry Bester, Chief Executive                   0171 377 6677 (for today only)
Andy Liggett, Finance Director                  0171 377 6677 (for today only)
Ann-Marie Wilkinson, Biddick Associates  Ltd    0171 377 6677


CHAIRMAN AND CHIEF EXECUTIVE'S JOINT STATEMENT
                                       
We  are  delighted  to  report another successful year with  increased  sales,
profits and earnings per share.  We have achieved our store opening target for
the  year  of  20  new  stores, in addition to which we acquired  20  existing
stores,  in  December 1998, which previously traded as 'Tile City',  giving  a
total of 40 stores.

Despite  the widely reported slow down in the retail sector we have  continued
to  trade well, demonstrating the appeal to consumers of our retail format and
the strength and resilience of the growth in the tile market.

Financial Results

Profit  before tax has risen by 41% to £5.83 million (1998: £4.13 million)  on
turnover of £43.0  million (1998: £31.3 million) an increase of 37%.  Earnings
per  share were up 39% to 9.9p (1998: 7.1p adjusted for share split in January
1999).

In  a  challenging retail environment we achieved total like  for  like  sales
growth of 7%, on top of exceptionally strong like for like growth of over  18%
in 1998.

Gross  margin improved from 52.4% to 55.5% reflecting changes in product sales
mix  as a result of our strategy to withdraw from lower margin bathroom  sales
and enhanced purchasing power.

Capital  expenditure  in the year, excluding freehold and leasehold  property,
amounted  to  £2.8  million.   We acquired five freehold  and  long  leasehold
properties  and  three development sites during the year, at a  cost  of  £1.7
million  and £0.5 million respectively. We also disposed of five freehold  and
long  leasehold  properties, the total proceeds  of  which  amounted  to  £1.9
million.

The Group currently owns eight freehold properties and three development sites
with a total net book value of £3.2 million.

In  January 1999, two million new shares were issued raising £2.5 million  for
the  Company.  Monies raised were used to finance the acquisition of  the  ex-
Tile City stores and provide us with additional working capital for expansion.
We  also decided to recommend a subdivision of the Company's share capital  in
January 1999 to help promote marketability of the Company's equity and  enable
the  London  Stock Exchange to report daily turnover figures for  Topps  Tiles
Ordinary Shares.

At  the  year end net cash balances for the Group were £0.7 million  and  long
term bank loans were £3.0 million.

Dividend

The  Directors have recommended a final net dividend of 2.51p per share which,
when  taken together with the interim net dividend of 0.72p per share paid  on
26  February 1999, makes a total dividend for the year of 3.23p.  This will be
payable  on  1  October 1999 to shareholders on the register at  10  September
1999.

Operational Review

During  the year we have opened 20 new stores, relocated two stores and closed
one  store. In addition to this, in December 1998, we acquired 20 stores  from
the receiver of Surface Coatings Ltd (trading as 'Tile City' or 'Tile Clearing
House')  for  a  cash  consideration of  £1  million.   Besides  giving  us  a
representation in a number of new, strategic locations for Topps Tiles we have
gained   a  second  brand,  'Tile  Clearing  House'  which  appeals   to   the
discount/bulk buying sector of the tile market.

At the end of May 1999 we operated from a total of 95 'Topps Tiles' stores and
14 'Tile Clearing House' stores totalling 109 stores.  This exceeds our target
for May 2000 of 108 stores set at the time of our flotation in June 1997.

The  workforce  of  the company increased during the year  from  462  to  730,
reflecting  the increase in the number of our retail outlets.  We continue  to
channel  considerable resources and effort into the training, development  and
motivation of this growing workforce.  We regard this as a key element in  the
continued profitable growth of the Group.

The Topps Sharesave Scheme, which was approved by shareholders in August 1998,
is  now  in  operation,  providing an additional component  of  the  incentive
package  which  includes performance related bonus and share  options.   These
measures  together  with  the bright prospects for advancement  in  a  growing
business  have helped us achieve stability in the workforce and  attract  high
calibre people.

We  would like to thank all our workforce for their continued contribution  to
the successful operation and expansion of the Group.

We  welcome  the Rt. Hon. Michael Jack, MP for Fylde in Lancashire who  joined
the  Board as a non-executive director on 26 January 1999 and look forward  to
his contribution to the profitable growth of the Group.

Current Trading and Prospects

In the seven weeks since the end of the financial year trading has been strong
with  like-for-like  sales  growth of over 9% compared  to  the  corresponding
period  last  year.  The phasing out of bathroom products and its substitution
with an increased tile and flooring offer has continued.  Initial results show
this strategy is improving overall returns on those stores concerned.

We  are  now in the latter stages of re-branding and integrating the ex  'Tile
City'  stores into the Topps Tiles network and refurbishing and refitting  the
'Tile  Clearing  House' stores.  Whilst this exercise has placed  considerable
demands  on our store fit out and opening resources, we are pleased  with  the
profit contribution these stores are now making.

This  financial year we plan to open 18 new stores and close or relocate three
stores.   The  openings will be weighted to the second half of  the  financial
year  due  to our commitment of resources to the integration of the Tile  City
stores earlier this year.

The  UK  tile market is forecast to continue to grow from its current low  per
capita  consumption base.  We estimate our present share of  the  retail  tile
market  to  be  around 11%.  Our objective is to increase our  store  base  to
around 200 stores over the next five years thereby raising our market share to
in excess of 20%.

Our  strong  position  in  the  market place,  proven  resilience  and  profit
performance during consumer market downturns and successful implementation  of
our  expansion to date, gives us confidence for the continued progress of  the
Group.

Stuart Williams                                      Barry Bester
Chairman                                             Chief Executive

Consolidated Profit and Loss Account
For the period ended 29th May 1999

                                   1999      1998
                                  £'000     £'000
-------------------------------------------------
Turnover                                         
Continuing Operations            39,340    31,274
Acquisitions                      3,656         -
Cost of Sales                  (19,121)  (14,881)
-------------------------------------------------
Gross profit                     23,875    16,393
Operating expenses                               
- employee profit sharing       (1,458)   (1,139)
- other operating expenses     (16,326)  (10,972)
-------------------------------------------------
Operating profit                                 
Continuing operations             5,921     4,282
Acquisition                         170         -
-------------------------------------------------
                                  6,091     4,282
Interest receivable and              
similar income                       50        85
Interest payable and similar      
charges                           (313)     (240)
-------------------------------------------------
Profit on ordinary activities     
before taxation                   5,828     4,127
Tax on profit on ordinary       
activities                      (1,792)   (1,279)
-------------------------------------------------
Profit on ordinary activities     
after taxation                    4,036     2,848
Dividends                       (1,348)     (942)
-------------------------------------------------
Transfer to reserves              2,688     1,906
Earnings per ordinary share      
                       -basic      9.9p      7.1p                             
                       -diluted    9.4p      6.8p


There are no recognised gains or losses in either period other than the profit
for the financial period.

Balance Sheets
29th May 1999
                                                      
                          Group          Company       
                           1999    1998    1999   1998
                          £'000   £'000   £'000  £'000
 -----------------------------------------------------                        
Fixed assets                                          
Goodwill                    113       -       -      -
Tangible assets           9,270   5,596       -      -
Investments                   -       -  14,640 14,640
------------------------------------------------------
                          9,383   5,596  14,640 14,640
                                                    
Current assets                                        
Stocks                   13,285   8,112       -      -
Debtors                   1,753     953   1,121  1,935
Cash at bank and in hand    710   1,289   5,963  2,232
------------------------------------------------------
                         15,748  10,354   7,084  4,167
                              
                                                      
Creditors: Amounts                                    
falling due within one    
year                   (12,813) (8,739) (1,264)  (990) 
------------------------------------------------------    
Net current assets        2,935   1,615   5,820  3,177
------------------------------------------------------
Total assets less         
current liabilities      12,318   7,211  20,460 17,817       
Creditors: Amounts                                    
falling due after more    
than one year           (2,685) (2,899)       -      -         
Provisions for            
liabilities and charges   (295)   (146)       -      -
------------------------------------------------------
Net assets                9,338   4,166  20,460 17,817
Capital and reserves                                  
Called-up share capital   5,264   5,010   5,264  5,010
Share premium                 -  12,687       - 12,687
Merger reserve            (399)   (399)       -      -
Special reserve               -       -  14,917      -
Goodwill write off            -(15,080)       -      -
Profit and loss account   4,473   1,948     279    120
------------------------------------------------------
Equity shareholders'      
funds                     9,338   4,166  20,460 17,817



Consolidated Cash Flow Statement
For the period ended 29th May 1999

                                       1999     1998
                                      £'000    £'000
----------------------------------------------------
Net cash inflow from operating        
activities                            4,075    3,385
----------------------------------------------------
Returns on investments and            
servicing of finance                  (263)    (155)
Taxation                            (1,462)    (617)
Capital expenditure and financial   
investment                          (3,087)  (2,843)
Acquisitions and disposals          (1,069)  (2,935)
Equity dividends                      (991)    (240)
----------------------------------------------------
Cash outflow before management of                   
liquid resources and financing      (2,797)  (3,405)
Financing                             2,218    5,055
----------------------------------------------------
(Decrease) increase in cash in the    
period                                (579)    1,650

Notes:

1.   Turnover is attributable to the Group companies acquired by Topps Tiles
     Plc immediately upon admission to the London Stock Exchange on 2 June    
     1997.

2.   Basic earnings per share for the period has been calculated on earnings
     (after the deduction of taxation) of £4,036,000 (1998: £2,848,000) and on
     ordinary shares of 40,767,771 (1998: 40,080,016) being the weighted      
     average of ordinary shares in issue during the period.

     Fully diluted earnings per has been calculated with regard to FRS 14
     and is based on earnings (after the deduction of taxation) of £4,036,000 
     (1998:£2,848,000) and on ordinary shares of 43,167,945 (1998:42,131,800).

3.   The financial information set out above does not constitute the Group's
     statutory financial statements for the 52 weeks ended 29 May 1999 or 30  
     May 1998 but is derived from those statements.  Statutory financial      
     statements for 1998 have been delivered to the Registrar of              
     Companies and those for 1999 will be delivered following the Company's
     Annual General Meeting.  The Auditors have reported on the accounts to 30
     May 1998,their report was unqualified and did not contain statements     
     under section 237(2) of the Companies Act 1985. The Auditors have given  
     an unqualified opinion on the accounts for the 52 weeks ended 29
     May 1999 which will be delivered to the Registrar of Companies
     following the Company's Annual General Meeting to be held on 7 September 
     1999.

4.   An interim dividend of 0.72p net per share was paid to shareholders of
     the Company on 26 February 1999.  The directors recommend a final        
     dividend of 2.51p net per share to be paid on 1 October 1999 to          
     shareholders on the register on 10 September 1999, making a total        
     dividend for the year of 3.23p (1998: 2.35p) per share.

5.   The report and accounts for the year ended 29 May 1999 will be posted to
     shareholders today and additional copies will be available from the      
     Secretary at the Company's registered office, Topps Tiles Plc, Earl Road,
     Stanley Green Trading Estate, Cheadle Hulme,Cheshire, SK8 6PT.