Topps Tiles posts strong first quarter
Topps Tiles has announced that its group sales rose by 10.2% year-on-year in the 13 weeks to 31 December.
However, the company said half of the growth was due to the comparative period in 2021 being prior to its acquisition of trade focused Pro Tiler Tools.
Giving an update on the Topps Tiles retail business, the company said like-for-like sales were 5.1% higher than last year, with total sales growth approximately two percentage points below that due to a lower average number of stores. Topps said the business delivered a strong period of trading in the weeks leading up to Christmas,
Rob Parker, chief executive of Topps Tiles group, said: “We are pleased with what has been a strong first quarter of the new financial year, with strong like-for-like sales growth in Topps Tiles of 5.1%, excellent performance from our recent acquisition, Pro Tiler Tools, and overall group sales up 10.2% compared with the same period last year.
“We remain mindful of the macroeconomic headwinds which may impact UK consumers and businesses in the forthcoming year, but the group’s strong balance sheet, world class customer service, specialist expertise and ambitious growth strategy gives us confidence that we will continue to deliver value over the medium term.”
