Topps sees sales growth continue
Laminate and tiles chain Topps Tiles has seen sales growth continue in recent weeks.
After enjoying a 10.2% increase in like for like sales in the six months to 29 March, the chain saw like for like sales rise by 5.6% in the 7 weeks to 17 May. This compares with a drop of 2.6% in the comparable period last year.
'The group has delivered a very successful first half performance, with strong sales growth, improving gross margins and overall growth in profits. While trading conditions undoubtedly improved during the period, helped by a higher level of consumer confidence, we believe our first half sales growth was significantly ahead of the overall tile market. Our strategy continues to focus on market share gains driven by offering an authoritative and differentiated range, outstanding service, and multichannel convenience, resulting in excellent overall value for money,' says Matthew Williams, Topps Tiles chief executive.
'We have made a good start to the second half with a healthy level of sales growth in the initial seven weeks of the period. We believe we continue to grow sales ahead of the market and remain confident that our strategy will continue to deliver profitable market share gains, against a backdrop of a steady improvement in UK economic indicators.'
Pre-tax profits rose from £4.7m to £8m in the six months, with sales 11.7% higher at £97.7m.