Topps Tiles delivers record first half sales
Topps Tiles has attributed its record first half trading to the strength of its brands, strategy execution and “encouraging” market conditions.
In the 26 weeks to 1 April 2023, the group’s revenues increased by 9.5% year-on-year to £130.5 million. Around £9 million of revenue growth related to Topps Tiles’ acquisition of Pro Tiler Tools and the launch of Tile Warehouse in 2022.
Meanwhile like-for-like sales at Topps Tiles were up 4.3% in the period and the retailer delivered revenue of £115.8 million, which was a record for the business as a standalone brand. Sales per store were 30% higher than pre-pandemic levels.
Rob Parker, chief executive of Topps Tiles, said: “Our performance across the first half has been good, with a record period for group revenues, supported by like-for-like sales growth in Topps Tiles of 4.3% and an excellent post-acquisition performance from Pro Tiler Tools.
“The economic outlook remains uncertain but early signs of easing supply chain pressures, allied to the group’s strong balance sheet, world class customer service, specialist expertise and growth strategy give us confidence in our ability to drive value for all stakeholders over the medium term.”
