Topps Tiles PLC
04 April 2006
Topps Tiles Plc
Interim
Trading Update and Board Appointment
Topps Tiles Plc (the 'Company'), the UK's largest ceramic tile and wood flooring
specialist, announces a trading update, for the 26 weeks ended 1 April 2006.
Overall turnover is expected to be in the region of £88.5 million (2005: £87.5
million), with like-for-like sales for the period expected to be 4.2% below the
same period last year. However, the last 5 weeks of trading have been
encouraging with like-for-like sales up 0.9%, in a consistently tough trading
environment.
The Group has a new store opening target of a net 24 new stores for the full
financial period with 14 opened in the 26 weeks to 1 April 2006.
The Board expects profit before tax, for the 26 week period, to be in the region
of £19.50 million (2005: £20.03) plus exceptional property profits of circa
£250k (2005: £1.72 million) to give Profit Before Tax in the region of £19.75
million (2005: £21.75 million) and expects to report further improvement in
gross margin since the last financial period end.
The Board will announce interim results for the 26 week period to 1 April 2006
on Tuesday 23 May 2006.
Additionally, the Company is pleased to announce that Matthew Thomas Mathieson
Williams, Chief Operating Officer (aged 32), has been appointed to the Board as
an Executive Director (having been Chief Operating Officer at Operational
Director level since 1 December 2004). The appointment is effective from 1 April
2006. There is no further information which falls to be disclosed pursuant to
Listing Rule 9.6.13.
Enquiries:
Sarah Landgrebe/Alex Walton
Bell Pottinger Corporate & Financial 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.