Source - SMW
Topps Tiles said it achieved like-for-like revenue growth in the first quarter of 3.4%.

The growth rate represented a significant improvement on the previous year, when first-quarter like-for-like sales grew by just 0.3%.

The company said it ended the period with 371 stores, having closed a net one store during the quarter.

"The group has made an encouraging start to the new financial year," chief executive Matthew Williams said.

"We believe this represents an outperformance of the overall tile market in the period, reflecting the continued success of our strategy of "Out-specialising the Specialists" and some further measured investment in both our trade and retail offer during the period."

"Our expansion into the commercial market is also progressing to plan, with the first investments made in the Parkside business adding new capabilities and resource."

"While we are pleased with the like-for-like sales growth achieved in Q1, we are retaining our prudent view of market conditions for the year ahead."