Interim Management Statement

RNS Number : 8804W

Topps Tiles PLC

05 August 2009

 



Topps Tiles Plc

The UK's largest tile and wood flooring specialist

Interim Management Statement

Topps Tiles Plc (the 'Company'), the UK's largest tile and wood flooring specialist, reports on trading for the 18 weeks ended 1st August 2009.  

At the half year results announced on 27 May 2009, we reported that for the first seven weeks trading of the new financial period overall Group revenues declined 9.6%, with like-for-like revenues declining by 11.9%.  Although trading conditions in the first 18 weeks of our new financial period remain challenging, reflecting the ongoing weakness in consumer confidence, the Group is on track to meet management's expectations for the full year. Overall revenue declined by 9.9% (2008: down 3.0%) and like-for-like revenue declined by 10.9% (2008: down 8.0%).

In the UK, we are trading from a total of 312 stores, having opened 5 new stores, and closed or relocated 13 this financial year.  

In Holland we are trading from 13 stores, having closed 9 since the end of March.

There have been no significant unexpected changes in the financial position of the Group since the publication of the Interim Report for the half year ended 28 March 2009.  

Enquiries:

Ann-marie Wilkinson / Laura Pope

Bell Pottinger Corporate & Financial                020 7861 3232

Matthew Williams, Chief Executive Officer

Rob Parker, Finance Director                         0161 486 2400

 

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