TOPPS TILES PLC (TPT) — HY results

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to TOPPS TILES PLC investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and will be submitted at any time via the q and a tab situated on the right hand corner of your screen. Simply type in your questions and press send. Company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand you over to Alex Jensen, CEO. Good morning. Thank you, Lily, and welcome everyone to the TOPPS interim update. I'm joined, of course, today by our interim CFO, Rob Swales. So to put these first half results into context, mission three six five lays out an ambition to grow revenue 50% higher than the 2024 baseline and to deliver PBT margin of 8%. In 2025, we achieved 40% of this revenue ambition and 12% of our profit growth ambition. In December, I laid out six priorities for the year crucial to realizing this ambition. And I'm pleased to say that we've made significant progress against each. And to remind you, they were to increase focus on bottom line, to deliver trade growth, to accelerate digital, to increase sales excellence in tops, and to tackle the non profitable parts of the business. And I'm gonna talk to you about these in detail later in the presentation. But to summarize at high level, we have increased our focus on profit. We continue to expand gross margin and have implemented three major self help cost initiatives aimed at accelerating progress to 8% PBT margin. On the top line, we have outperformed a softer RMI market. This has been underpinned by gro...