Topps Tiles PLC
10 January 2007
Topps Tiles Plc
the UK's largest tile and wood flooring specialist with 278 stores
and 17 stores in Holland
AGM Statement and Trading Update
At today's Annual General Meeting of Topps Tiles Plc, Barry Bester, co-founder
and Chairman will tell shareholders:
'At the full year results announced on 28 November 2006, we reported that for
the first 7 weeks of trading in the new financial period total revenues
increased 10.3 % and like for like revenues were up 3.3%. I am pleased to report
that, despite a persistently tough retail market trading in the first 14 weeks
of our new financial period has continued to improve with overall revenue up by
12.6% (2006: up 0.7%) and like-for-like revenue up 4.7% (2006: down 5.0%).
The UK showed overall revenue growth of 11.8% (2006: up 0.1%) with like-for-like
revenue up 4.3% (2006: down 5.5%).
Holland showed overall revenue growth of 41.5% (2006: up 19.1%) with
like-for-like revenue up 19.6% (2006: up 8.3%)
Our controlled UK store roll out programme continues and we have a stated target
of a net 30 new stores in this financial period. So far we have opened 7 stores
in the period and have a strong pipeline of sites currently in development.
In Holland we are now trading from 17 stores with 2 new stores opened in this
financial period. We have a target of 5 new stores in this financial period.
Topps has consolidated its market leading position and with the UK tile market
forecast to increase in volume by over 15% by 2011, we remain confident that our
proven business model and focused management team, with the shared objective of
driving the business forward, will continue to deliver sustainable growth for
our shareholders'.
Enquiries:
Barry Bester, Chairman 0161 486 2400
Nick Ounstead, Chief Executive 0161 486 2400
Ann-Marie Wilkinson/Sarah Hilyer, Bell Pottinger 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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