Topps Tiles PLC - Leicestershire, England-based tile seller - Delivers ‘record’ period in the first half of its financial year ended April 1. Revenue climbs 9.5% year-on-year to £130.5 million from £119.2 million. Topps Tiles says strong revenue performance in the first half ‘reflects the strength of brands, the execution of our strategy and encouraging domestic market conditions’. The company notes that about £9.0 million of revenue growth is related to the acquisition of Pro Tiler Tools and the launch of Tile Warehouse in 2022. Says customer satisfaction scores improve further during the first half, against the world class levels reported last year. Looking ahead, Topps Tiles expects profit in the current financial year to be weighted towards the second half.
Chief Executive Rob Parker says: ‘The economic outlook remains uncertain but early signs of easing supply chain pressures, allied to the group’s strong balance sheet, world class customer service, specialist expertise and growth strategy give us confidence in our ability to drive value for all stakeholders over the medium term.’
Current stock price: 48.20 pence each, up 3.7% on Wednesday around midday in London
12-month change: down 11%
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