Business
Unaudited Interim Report 26 Weeks Ended 2 April 16
Unaudited Interim Report 26 Weeks Ended 2 April 16.
About this update from Topps Tiles Plc
[{"type":"text","content":"\n \nRNS Number : 0536Z Topps Tiles PLC 24 May 2016 \n\n \n \n \n \n24 May 2016\n \nTopps Tiles Plc\n(\"Topps Tiles\", \"the Group\" or \"the Company\")\n \n \nUNAUDITED INTERIM REPORT FOR THE 26 WEEKS ENDED 2 April 2016\n \nStrategy delivering robust growth in sales, profits and dividend\nStrong current trade and confident outlook underpinned by further extension of Topps brand appeal\n \nHIGHLIGHTS\n \nTopps Tiles Plc, the UK's largest tile specialist with 345 stores, announces its interim results for the 26 weeks ended 2 April 2016.\n \n \n\n\n\n\n \n\n\n26 weeks ended\n2 April \n2016\n\n\n26 weeks ended\n28 March\n2015\n\n\nYoY\n\n\n\n\nGroup revenue\n\n\n£108.0 million\n\n\n£104.0 million\n\n\n+3.8%\n\n\n\n\nLike-for-like revenue growth year on year\n\n\n+4.7%\n\n\n+5.3%\n\n\n \n\n\n\n\nGross margin\n\n\n61.5%\n\n\n60.7%\n\n\n+80bps\n\n\n\n\nAdjusted operating profit1\n\n\n£10.9 million\n\n\n£9.6 million\n\n\n+13.5%\n\n\n\n\nAdjusted profit before tax2\n\n\n£10.3 million\n\n\n£9.1 million\n\n\n+13.2%\n\n\n\n\nAdjusted earnings per share3\n\n\n4.24p\n\n\n3.67p\n\n\n+15.5%\n\n\n\n\nInterim dividend\n\n\n1.0p\n\n\n0.75p\n\n\n+33.3%\n\n\n\n\nNet debt4\n\n\n£28.4 million\n\n\n£31.0 million\n\n\n£2.6 million\n\n\n\n\n \nStatutory Measures\n\n\n\n\nOperating profit\n\n\n£10.4 million\n\n\n£10.1 million\n\n\n+3.0%\n\n\n\n\nProfit before tax\n\n\n£10.1 million\n\n\n£9.1 million\n\n\n+11.0%\n\n\n\n\nBasic earnings per share\n\n\n4.12p\n\n\n3.67p\n\n\n+12.2%\n\n\n\n\n \n \n \n \nFinancial Highlights\n\n\n\n\n· \n\n\nTotal sales growth of 3.8%, with like-for-likes sales ahead by 4.7%\n\n\n\n\n· \n\n\nGross margin increased to 61.5% (2015: 60.7%) driven by increased direct sourcing, product exclusivity and new product introductions\n\n\n\n\n· \n\n\nAdjusted EPS growth of 15.5% year on year (2015: 14%)\n\n\n\n\n· \n\n\nNet debt reduced by £2.6 million year on year to £28.4 million\n\n\n\n\n· \n\n\nInterim dividend increased by 33% to 1.0p (2015: 0.75p)\n\n\n\n\n \n \nOperational Highlights\n\n\n\n\n· \n\n\nSuccessful strategy of \"Out Specialising the Specialists\" delivers profitable sales growth\n\n\n\n\n· \n\n\nMultiple initiatives to strengthen Topps' position as the UK's leading til...