The trading statement announced a slowing of sales growth,margins are under pressure as B&Q and Carpetright have entered the market recently depriving them of their semi monopoly, it has a ridulously high price earnings ratio, the graphics are now very negative after its pre Christmas spurt, retail spending on discretionery items is gone negative (witness cars). The respected Investors Chronicle is very bearish on them.

Thinks it's hitting the top at the 270p mark, tempted to short the stock through a spread bet. I believe a lot of people are deluding themselves of any protection to a falling property market and associated items, (tile shops) it is already happening and the stories by estate agents etc are total tosh. oddly enough I wouldn't short builders (wouldn't buy them either but do hold some Persimmon). The competition from the likes of B&Q are hardly going to improve trading any more and further outlets cost a lot of money. - which are hopeless if they don't sell enough tiles to cover the cost. If I owned I would be taking profits. The shares recommendation could also be a signal to sell - not being rude but I remember the buy recommendations such as Pressac, Henlys and Mayflower etc.

imo /dyor

Agm statement looked like a veiled profit warning imho as profits unsustainable, market leading position referred may not be so for long with other competitors and the Board Director is stepping down to devote more time to other work, ie less time to Topps tiles. yet some people are still buying ??? I would be a seller.

Anyone know why there's been a 3% drop this morning?

No, queen1. I wondered. Probably just profit-taking but I am a bit nervous. 250,000 shares gone through this morning, which is not a huge number I think.

Maggot - I decided to cut and run. Made a 50% profit in 6 months which can't be sniffed at. Good luck if staying in.

down a bit today which takes the stock well below the trend lines, next support appears to be at the 180p level. With the current outlook on retail markets and the TA it would appear it has further to drop.

I know you should not get attached to a share so I sold most of mine at about 245. At present I guess with this trend that the rest may have to go.

It's not just profit taking, retail sales generally well down, property not changing hands and therefore middle england not laying new tiles. TA now shows the sp well below the support line of the rising trend and the next support stop is 180p - sell up in May ( or march) and come back on St Ledgers day, may hold true with a number of stocks this year, TPT being one of them.

love to all

Minx

Topps Tiles PLC
23 March 2005

Topps Tiles

Interim Pre Close Trading Update

Topps Tiles, the UK's biggest ceramic tile and wood flooring specialist is
pleased to announced that overall turnover for the 26 week period ended 2 April
2005 is expected to be in the region of 87 million, with like for like sales
for the same period expected to be an increase of 8%. However in the last four
weeks we have experienced very tough trading with like-for-like sales for these
four weeks alone running at between 2-3% below the same period last year.

Operational profit before tax is expected to be approximately 19.5 million. In
addition, there is an exceptional profit on property disposals of 1.5 million
to give a 26 week total profit before tax in the region of 21 million, an
approximate increase of 35% on last years 27 week comparative.

The Board expects to announce its interim results for the 26 week period to 2
April 2005 on Tuesday 24 May 2005.

Has this been oversold? certainly looking interesting again.

Watch out,there are some stocks that fall out of favour with the market and never fully restore to their former glory.This could be one of them...IMHO

Thanx Ethel. Opinion appreciated

azhar, I was thinking similar, closed my short at the 180 support line, see now it has dropped to the 162 and is hovering around there. Could be looking to recover a little. ??

It is now below the support - now a resistance, no support below this ??? At long term the next support is somewhere around 57p

I'm back in. I sold back in February but feel the time is right to dip my toe back in again. This threads's been quiet for a while. Anybody else out there still in TPT?

Hi,
I,ve never owned them and whilst ethel's opinion is valid, there is a persuasive write up in TMI out last Sat (TPT being one of their successes). Also, Shares mag on Fri included them in a general retail article for similar reasons.
I'm going to give them a go.

Best of luck carl1965....and welcome to the party!

Nice rise of 4% today, probably attributable to the figures from Dixons which weren't quite as bad as the market feared.

Been quiet on here recently. Well I feel that this week's results were splendid given the recent state of the high street and housing markets. Definitely more to come from Topps in 2006!

Group turnover up 10% to 173.3m (2004: 157.6m)
Like for like sales increased by 3.4% (2004:21.5%)
Core store (stores opened pre September 2002) like for like sales up 1.6%
group gross margin improved to 61.3% (2004: 60.5%)
Operating costs represented 40% of turnover (2004: 39.9%)
Profit Before Tax up 16.1% to 39.2m (2004: 33.8m)
Profit before tax, excluding exceptional capital items, up 12.9% to 37.5m (2004: 33.3m)
Basic EPS up 18.1% to 13.34p (2004:11.30p)
Final net dividend 6.00 pence payable 31 January 2006
Total dividend of 9.50 pence per share (2004: 8.00 pence) up 18.8%
Strong cash generation with net cash balances of 21.8 m at period end

Hi.
Does anyone think the share will get to last year's level, 270+ any time soon? Bought at 199p and sold at 245p then got carried away & bought loads @ 235p & 265p (!!!) believing they would go all the way to 300p+. Nursing heavy losses at the moment. Had sleepless nights when it hit the lows of 156p 3 weeks ago!!! Didn't have the courage to buy more then to average down which would have been great with hindsight! Now testing 200p but wondered if someone believes this will re-test 260-270p anytime soon?? this week's results are actually really good & encouraging (new stores allegedly doing very well !) but good enough to take share price back up to 270p+??. Bit disappointed that final dividend wasn't increased though (was hoping for 8p !). Does anyone have any thoughts/predictions on the potential share price in the next 2/3 mths?
Thanks for replying.
A worryingly out of pocket TPT holder