Business
Trading Update
Trading Update.
About this update from Topps Tiles Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4860A\n Topps Tiles PLC\n 30 September 2020\n \n \n \n \n 30 September 2020 \n \n \n \n \n \n Topps Tiles Plc\n \n \n \n \n \n Trading Update \n \n \n \n \n \n Strong finish to the year, modest pre-tax profits expected \n \n \n \n \n \n Trading\n \n \n \n \n \n Topps Tiles Plc (the \"Group\"), the UK's leading tile specialist, announces a trading update for the 52 week period ended 26 September 2020. \n \n \n \n \n \n Retail trading over the fourth quarter remained strongly positive and reflected both a robust home improvement market and the strength of the Topps business model. Retail like-for-like sales grew by 16.5% in the 13 weeks to 26 September 2020.\n \n \n \n \n \n The strong finish to the year, with the \n Retail like-for-like sales performance being robustly ahead of the comparative period, gives the Board confidence that the Group will generate a modest level of adjusted profit before tax1 for the 52 weeks ended 26 September 2020.\n \n \n \n \n \n Average Weekly Sales*\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Apr\n \n \n \n \n May\n \n \n \n \n Jun\n \n \n \n \n Jul\n \n \n \n \n Aug\n \n \n \n \n Sep\n \n \n \n \n \n \n FY 2020\n \n \n \n \n £0.8m\n \n \n \n \n £1.3m\n \n \n \n \n £3.3m\n \n \n \n \n £4.4m\n \n \n \n \n £4.5m\n \n \n \n \n £4.6m\n \n \n \n \n \n \n FY 2019\n \n \n \n \n £4.0m\n \n \n \n \n £4.2m\n \n \n \n \n £4.1m\n \n \n \n \n £3.9m\n \n \n \n \n £3.9m\n \n \n \n \n £4.1m\n \n \n \n \n \n \n YoY% \n \n \n \n \n (80)%\n \n \n \n \n (69)%\n \n \n \n \n (20)%\n \n \n \n \n +12%\n \n \n \n \n +14%\n \n \n \n \n +14%\n \n \n \n \n \n * Average weekly sales for Topps Tiles retail business (stores and online business)\n \n \n \n \n \n Revenues\n for the 52 week period are expected to be in the region of £192 million (2019: £219 million). Retail like-for-like revenues in the 52 weeks were down by 12.5% when compared to the prior year (2019: +0.6%).\n \n \n \n \n \n Retail\n \n \n \n \n \n The Retail business performed robustly across the final quarter\n , driven by continued strong demand from DIY customers and an accelerating recovery in trade activity which increased steadily across the period. All of our stores are open and operating with social distancing and hygien...