Topps Tiles PLC
13 July 2001
Topps Tiles plc
Trading Update
Topps Tiles, the UK's largest ceramic tile specialist, makes the following
statement on completion of its financial year ended 2 June 2001.
The company announces that sales for the year are anticipated to be broadly in
line with expectations at approximately £74.6m. However, the company has been
unable to achieve the budgeted improvement in gross margins during the second
half of the financial year. Consequently, profit before tax for the 52 weeks
ended 2 June 2001 is now expected to be in the region of 10% below current
market expectations.
The Directors are encouraged by the trading experience of the company in the
opening five weeks of the new financial year and the Board will provide an
update on trading performance at the time of the preliminary announcement on
31 July 2001.
Enquiries:
Barry Bester, Chief Executive, Topps Tiles 01625 446700
Ann-marie Wilkinson, Beattie Financial 0207 398 3300
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