Topps Tiles PLC
05 July 2006
Topps Tiles Plc
Third Quarter Trading Update
Topps Tiles Plc ('the Company'), the UK's largest ceramic tile and wood flooring
specialist, today announces a trading update for the third quarter, which covers
the first 13 weeks of the second half of the financial year ending 30 September
2006.
Compared to the same 13 week period last year, overall revenue growth was up
5.8% (year to date: +2.7%) and like-for-like revenues were flat (year to date:
-2.7%), reflecting the resilience of the business model in a consistently tough
UK trading environment.
The Board remains encouraged by the third quarter performance set against the
first half of the financial year, when like-for-like revenues were down 4%.
There has also been a further improvement in gross margin, since the half year
end.
The Company remains on track to open its target net 24 new stores for the full
financial period and by the end of the third quarter had opened 18 stores.
The Company continues to grow market share and the Board remains confident of
achieving further progress in the final quarter of this financial year.
- ends -
Analyst conference call:
Nick Ounstead, CEO, will be hosting an analyst conference call at 9.00am (BST)
this morning (Wednesday, 5th July, 2006). The details are as follows:
Participant dial-in no: +44 (0) 208 515 2306
Chairperson: Nick Ounstead, CEO, Topps Tiles
Conference call title: Topps Tiles Announcement 05.07.06
For further information please contact:
Topps Tiles Plc
Nick Ounstead, CEO: 01625 446700
Barry Bester, Co-Chairman: 0208 269 1900
Bell Pottinger
Alexandra Walton/Ben Woodford: 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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