Topps Tiles has reported record results, attributing its “nationwide store coverage, world-class customer service and strong omnichannel capability” to the rise in sales.
In the 26 weeks to 1 April 2023, the company saw sales of £130.3 million, a rise of 9.3% year-on-year.
Gross profit rose by 2.7% to £68.7 million, compared with the same period last year, with the company reporting a 38% drop in adjusted profit before tax of £4.4 million, compared with £7.1 million last year.
According to the CEO Rob Parker, the drop reflects “the impact of inflation year on year, including significantly increased energy costs and a number of other one-offs.”
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Average sales per store were also up by 30%, compared to the same period in 2019, the group revealed.
“Our Topps Tiles brand delivered a further period of robust like-for-like sales growth, with Pro Tiler Tools achieving another exceptional performance to maintain its strong track record since acquisition in 2022,” Parker said.
“Our strong trading, when combined with our successful strategy, world-class customer service, leading product offer and strong balance sheet, gives us increasing confidence in our outlook.
He added: “We remain confident that we are on track to hit our 20% market share target ahead of schedule.”
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