Topps Tiles PLC
04 April 2006
Topps Tiles Plc
Interim
Trading Update and Board Appointment
Topps Tiles Plc (the 'Company'), the UK's largest ceramic tile and wood flooring
specialist, announces a trading update, for the 26 weeks ended 1 April 2006.
Overall turnover is expected to be in the region of £88.5 million (2005: £87.5
million), with like-for-like sales for the period expected to be 4.2% below the
same period last year. However, the last 5 weeks of trading have been
encouraging with like-for-like sales up 0.9%, in a consistently tough trading
environment.
The Group has a new store opening target of a net 24 new stores for the full
financial period with 14 opened in the 26 weeks to 1 April 2006.
The Board expects profit before tax, for the 26 week period, to be in the region
of £19.50 million (2005: £20.03) plus exceptional property profits of circa
£250k (2005: £1.72 million) to give Profit Before Tax in the region of £19.75
million (2005: £21.75 million) and expects to report further improvement in
gross margin since the last financial period end.
The Board will announce interim results for the 26 week period to 1 April 2006
on Tuesday 23 May 2006.
Additionally, the Company is pleased to announce that Matthew Thomas Mathieson
Williams, Chief Operating Officer (aged 32), has been appointed to the Board as
an Executive Director (having been Chief Operating Officer at Operational
Director level since 1 December 2004). The appointment is effective from 1 April
2006. There is no further information which falls to be disclosed pursuant to
Listing Rule 9.6.13.
Enquiries:
Sarah Landgrebe/Alex Walton
Bell Pottinger Corporate & Financial 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange