Business
Unaudited Interim Report 26 Weeks Ended 28 Mar 15
Unaudited Interim Report 26 Weeks Ended 28 Mar 15.
About this update from Topps Tiles Plc
[{"type":"text","content":"\n \nRNS Number : 5601N Topps Tiles PLC 19 May 2015 \n \n\n \n19 May 2015\n \nTopps Tiles Plc\n(\"Topps Tiles\", \"the Group\" or \"the Company\")\n \n \nUNAUDITED INTERIM REPORT FOR THE 26 WEEKS ENDED 28 March 2015\n \nEncouraging sales growth, Further market share gains, Extending appeal of the Topps brand\n \n \nHIGHLIGHTS\n \nTopps Tiles Plc, the UK's largest tile specialist with 343 stores, announces its interim results for the 26 weeks ended 28 March 2015.\n \n \n\n\n\n\n\n\n\n26 weeks ended\n28 March\n2015\n\n\n26 weeks ended\n29 March\n2014\n\n\nYoY%\n\n\n\n\nGroup revenue\n\n\n£104.0 million\n\n\n£97.7 million\n\n\n+6.4%\n\n\n\n\nLike-for-like revenue growth year on year\n\n\n+5.3%\n\n\n+10.2%\n\n\n\n\n\n\n\nGross margin\n\n\n60.7%\n\n\n60.8%\n\n\n(10)bps\n\n\n\n\nAdjusted operating profit1\n\n\n£9.6 million\n\n\n£8.9 million\n\n\n+7.9%\n\n\n\n\nAdjusted profit before tax2\n\n\n£9.1 million\n\n\n£8.0 million\n\n\n+13.8%\n\n\n\n\nAdjusted earnings per share3\n\n\n3.67p\n\n\n3.22p\n\n\n+14.0%\n\n\n\n\nInterim dividend\n\n\n0.75p\n\n\n0.65p\n\n\n+15.4%\n\n\n\n\nNet debt4\n\n\n£31.0 million\n\n\n£36.3 million\n\n\n£5.3 million\n\n\n\n\n \n \n\n\n\n\nOperating profit\n\n\n£10.1 million\n\n\n£8.8 million\n\n\n+14.8%\n\n\n\n\nProfit before tax\n\n\n£9.1 million\n\n\n£8.0 million\n\n\n+13.8%\n\n\n\n\nBasic earnings per share\n\n\n3.67p\n\n\n3.18p\n\n\n+15.4%\n\n\n\n\n \n \nFinancial Highlights\n· Total sales growth of 6.4%, with like-for-like sales ahead by 5.3%\n· Gross margin of 60.7% (2014: 60.8%) with underlying gains offset by growth of lower margin trade business\n· Adjusted EPS growth of 14.0% year on year (2014: 76%)\n· Net debt reduced by £5.3 million year on year to £31.0 million at 28 March\n· Interim dividend increased by 15.4% to 0.75p (2014: 0.65p)\n \n \nOperational Highlights\n· Growth ahead of the tile market - reflecting successful focus on taking profitable market share.\n· Trade sales increased to 48.3% of total (2014: 44.0%) driven by accelerating \"do it for me\" trend and extension of successful trade loyalty scheme\n· Completed roll-out of updated branding to all stores\n· ...