Stockdog,

What do you think of the latest results??

I thought they were ok. Quite positive outlook from the Company!!
The retail sector seems to be improving. Like-for-like sales figures still down from '04 but then again that was going to be very difficult as 2004 was an exceptional year!
One point is that as long as nothing nasty happens in the High street, the next set of results can only look positive compared with 2005...!

The Gross margin is improving which is important + store openings are going ahead as planned so maybe 2006 will be a great year for Topps Tiles!
.....and as was hinted in the press, Topps Tiles might well become a Takeover Target within 12 months.

If that's the case, what's a reasonable Takeout price in your opinion?? 3-3.50?

Thanks for replying.

Oddie

TPT tipped as a buy in the SundayTimes ahead of Tues trading update. Librum 160p target, G.Sachs 200p target

Inside the City: Topps Tiles floors it

NOT every retailer has been upended by the internet. Topps Tiles, Britain’s biggest flooring specialist, is comfortingly old school.

Indeed, only 1% of its sales come from web-only shoppers. Most use the website but buy in-store — after all, how many people are going to splash out hundreds of pounds on prestige stone cappuccino marble without seeing it in person?

Yet its dependence on the high street didn’t stop Topps from having a barnstorming 2013. Its shares surged more than 130%, closing on Friday at 121½p, valuing the company at more than £233m. Sales increased, if only slightly, for the first time in six years.
The question is, can Topps keep its resurgence going? I say yes. We’ll get a good indication on Tuesday when the company reveals how it traded in its first quarter, which covers the final three months of 2013.

No other retail sector is as closely correlated to the housing market as flooring — the main reason why the last few years have been so lean.

Unless you have been living under a rock, you will know that the housing market has been jolted back into life. Last week Nationwide reported that prices surged 8.4% in 2013 thanks to the government’s Help to Buy financial doping programme. The research firm IHS Global Insight predicts another 8% jump this year.

The Bank of England may be forced to raise interest rates sooner than it envisaged given the gathering pace of the recovery, but that is still likely to be many months away, at least.

The housing boom thus looks set to continue, and Topps is primed to benefit. The broker Liberum Capital has set a price target of 160p — or about 30% above today’s figure.

The logic appears sound. Back in the good old days of 2007, Topps raked in earnings of £44m from 301 stores. The performance then fell steadily until last year’s slight improvement to £15.6m, generated from a larger estate of 328 shops.

There is no reason to think the company cannot inch back towards its pre-crisis health. The chief executive, Matthew Williams, has kept tight control of costs and expanded sensibly. Topps has opened 79 stores in the past five years but closed more than 50, to make sure it has the best locations. Its market share has grown.

The company may not be able to get all the way back to the chunky margins of its heyday, but if it comes close, this will show through in profits — and the share price. Buy.

www.thesundaytimes.co.uk/sto/business/Companies/article1359024.ece

Q1 Interim Management Statement

Topps Tiles Plc (the "Company"), the UK's largest tile and wood flooring specialist, announces a trading update for the 13 weeks ended 28 December 2013.

Like-for-like revenues across the first 13 weeks of the current financial year increased by 9.3% (2012: up 1.6%).

Topps ended the quarter with a total of 328 stores.

There have been no significant or unexpected changes in the financial position of the Group since the publication of the Annual Financial Report for the 52 weeks ended 28 September 2013.

Matthew Williams, Chief Executive Officer, said: "Topps traded strongly over the first quarter, with an acceleration in like for like sales growth over the final month of the period. Whilst we are encouraged by this and remain optimistic about prospects for 2014, at this early stage in the year we remain cautious of projecting forward this level of performance. Trading over the second quarter will be key in this regard."

Topps will hold its Annual General Meeting on 24 January 2014, no further update on trading will be given at this point.

The Company will announce a trading update for the 26 weeks ended 29 March 2014 on 26 March 2013, prior to entering its close period.



- Ends -

Excelent Trading Performance............

On outlook at Finals we had this......

Current Trading and Outlook 26th/NOV/ 2013

· The Group is now trading from 327 stores (2012: 324 stores)
· In the first eight weeks of the new financial period, Group revenues, stated on a like-for-like basis, increased by 7.4% (2012: 1.0%)
· Trial of Topps Tiles Boutique, a new small store format to commence in second quarter....................ends.

As above posters have commented the last 5 weeks
of the trading 1/4tr must have seen like for like
sales increase of 13%, a truly outstanding performance.

Topps Tiles starts year with strong sales rise

07 Jan 2014 - 07:27
(Adds details, quote) LONDON, Jan 7 (Reuters) - Topps Tiles , Britain's largest specialist tile retailer, said a strong pick-up in trade over December had helped it to a better than expected start to its new financial year. The group, which has 328 stores and also sells flooring, said sales at stores open over a year rose 9.3 percent in the first 13 weeks to Dec. 28, ahead of analysts' forecasts for a 6 to 7 percent jump. "Whilst we are encouraged by this and remain optimistic about prospects for 2014, at this early stage in the year we remain cautious of projecting forward this level of performance," Topps Chief Executive Matthew Williams said. Topps posted its first rise in adjusted pretax profit since 2007 in November, and according to analysts, is well placed to benefit from an improving economy and recovering housing market. Britain's economy enjoyed some of the fastest growth of any major industrialised economy in the first nine months of 2013 and data on Friday showed that British lenders approved the highest number of mortgages in more than five years in November. [ID:nL5N0JA2PU] [ID:nL9N0IM021] Shares in Topps Tiles have more than doubled in a year to 129 pence, valuing the firm at around 250 million pounds. (Reporting by Neil Maidment; editing by Kate Holton) ((neil.maidment@thomsonreuters.com)(+44)(0)(207 542 2292)(Reuters Messaging: neil.maidment.thomsonreuters.com@reuters.net)) Keywords: TOPPSTILES/RESULT

said sales at stores open over a year rose 9.3 percent in the first 13 weeks to Dec. 28, ahead of analysts' forecasts for a 6 to 7 percent jump.Topps Chief Executive Matthew Williams said. Topps posted its first rise in adjusted pretax profit since 2007 in November, and according to analysts, is well placed to benefit from an improving economy and recovering housing market.

Cantor Fitzgerald Sell 133.00 82.00 100.00 Retains

N+1 Singer Hold 133.00 - 100.00 Retains

Yep amazed at those 2 brokers skinny.

Wondering if they know something we dont or is it the cautious statement by the CEO for the rest of the year.

Topps Tiles' fortunes follow housing market

by Harriet Green
January 7, 2014, 8:46am

Topps Tiles, the UK's largest tile and wood floorings specialist, saw a 9.3 per cent jump in like-for-like revenues over the run up to Christmas - in the 13 weeks ending 28 December.

For a company that helps people refurbish their homes, how well Topps does is closely linked to the housing market (people do up homes to sell and when they move in). So with house prices in December up 8.4 per cent from a year earlier, and set to carry on rising this year, its positive results could well continue.

Homeware specialist Dunelm has also announced upbeat results today, with like-for-like sales rising 2.9 per cent in the second quarter following a decline in the first three months of its financial year, owing to warmer weather.

Topps Tiles has 328 stores across the country, and saw shares soar by more than 130 per cent last year, despite trading taking a turn for the worse in May, on the back of low consumer confidence levels.

Shares opened up over six per cent this morning, following the interim management statement.

- See more at: http://www.cityam.com/blog/1389084376/topps-tiles-fortunes-follow-housing-market#sthash.TayYOviH.dpuf

Half Yearly Report

· First half sales increased by 11.7% to £97.7 million (2013: £87.4 million)
· Like for like revenues increased by 10.2% in the period reflecting strategic focus on market share gains and stronger levels of consumer confidence
· Sales growth believed to be ahead of the tile market, with market leading position strengthened further
· Gross margin increased to 60.8% (2013: 59.8%) reflecting further supply chain efficiencies and proactive management of cost base
· Adjusted EPS growth of 76% year on year
· Net debt reduced by £8.6 million year on year to £36.3 million at 29 March
· Interim dividend increased by 30% to 0.65p (2013: 0.50p)
· Encouraging initial results from trial of new smaller format "Topps Tiles Boutique" stores - trial to continue in H2, with a further two stores to be opened in and around the M25
· Current trading - like for like sales over 7 weeks to 17 May 2014 increased by 5.6% (2013: 8 weeks to 25 May 2013 decreased by 2.6%)

Cantor Fitzgerald Buy 123.75 120.00 145.00 145.00 Upgrades

Interim Management Statement

Like-for-like revenues for the third quarter increased by 6.3% (2013: decrease of 1.5%).

The third quarter performance is in line with management's expectations and we remain comfortable with market expectations for the year as a whole.

Topps is currently trading from a total of 330 stores.

Matthew Williams, Chief Executive Officer, said: "The like-for-like sales momentum we reported for the first seven weeks of the second half has been maintained for the third quarter as a whole.

"We firmly believe that Topps is continuing to grow ahead of the overall tile market. Whilst consumer sentiment remains favourable, this performance primarily reflects the focus we have placed on profitable market share gains, with Topps' authoritative range, outstanding service, multichannel convenience and value for money offering a compelling proposition to customers.

"We remain optimistic about trading conditions for the remainder of the year."

The Company has now successfully completed the refinancing of its loan facilities through to May 2019. There have been no other significant or unexpected changes in the financial position of the Group since the publication of the Interim Report for the 26 weeks ended 29 March 2014.


- Ends -

Berenberg Buy 104.88 104.00 - 170.00 Initiates/Starts

Trading Update & Appointment of Company Secretary

This sp has almost halved during 2014 - any thoughts, skinny?

Clearly "Retail" is being bashed and recent Dir-buying has been woeful; yet they fulfil a Building/DIY Market-need like no other.
..EDIT - sp ~88p =mid Oct14.

EDIT (10Nov2014)- sp on the Up, ~102p, -yet still Dirs are buying under £200-worth....Eh?
EDIT (15Dec2014)- later post "re Housing Boom" - I don't think Topps really services the building trade - surely it's the
secondary market, New kitchens/bathrooms for folks that stay-put?. . . . . nevertheless I'm pleased with the late-2014 upturn.
EDIT(27Jan2015)- Just checking Dir-Deals - FD seems to have sold-off £42k, and then same price; bought £50-worth (DYOR) which has shown a profit . . . . off finance it looks. Maybe TPT doesn't give him a car-allowance?

Final Results

Financial Highlights
· Total sales growth of 9.8% and 8.1% on a like-for-like basis
· Gross margin increased to 60.9% (2013: 60.2%) reflecting further sourcing gains and our focus on a differentiated product offer
· Adjusted profit before tax2 of £17.1million, up by 31.5%
· Increased final dividend of 1.60 pence per share (2013: 1.0 pence per share), making a total for the year of 2.25 pence per share (50% increase)
· Net debt5 at period end reduced to £30.5 million (2013: £36.6 million), a level the Board believes represents an appropriate balance of an efficient capital structure and financial flexibility

Operational Highlights
· Market share increased to 30.3%4 (2013: 28.5%) reflecting successful strategy of providing an inspirational shopping experience, unrivalled product range authority and multi-channel convenience
· Sixth consecutive year of market share gains - strong progress made towards target of taking £1 in every £3 spent on tiles in the UK domestic refurbishment market
· Trade sales increased to 46% of total (2013: 43%) as trend for "do it for me" gathers further momentum
· Sales benefiting from increased investment in new product development - 20% of tile revenues generated from ranges launched in the last 18 months
· Multiple initiatives to extend the appeal of the Topps brand being implemented, including
‐ a programme of 'all store improvements' which has seen our latest display and merchandising treatments installed across the entire Topps estate
‐ an extension of the Topps Tiles Boutique trial to a total of five sites, with a further 10-12 sites planned in 2015
‐ a new marketing campaign featuring Phil Spencer of "Location, Location, Location" as Topps Brand Ambassador
‐ a roll out of updated branding and external improvements across core stores planned for 2015


Current Trading and Outlook

· The Group is now trading from 336 stores (2013: 327 stores)
· In the first eight weeks of the new financial period, Group revenues, stated on a like-for-like basis, increased by 6.7% (2013: 7.4%)

Commenting on the results, Matthew Williams, Chief Executive said: "Topps had an excellent year in 2013/14 as our consistent focus on taking profitable market share helped the Group to significantly outperform the overall tile market and deliver robust increases in like for like sales, pre-tax profits and earnings per share. We are also delighted to be recommending to shareholders a 50% increase in full year dividend to 2.25 pence per share.

"Furthermore, we have made an encouraging start to the new financial year with like-for-like sales ahead by 6.7%. With a programme of initiatives to extend the appeal of the Topps brand well underway, we are confident that we will deliver further progress this financial year towards our goal of taking one third of the market."

TPT Topps Tiles, broken out through a downtrend line after recent strong results. Looking to break horizontal resistance at 122p 130p 136p and with heavy volume it should be able to navigate through these levels.

Trades on a forward P/E to 2016 of 13.2. Benefited from the housing boom of the last few years.

Gone positive now.

10 Dec 2014 Topps Tiles PLC TPT Liberum Capital Buy 117.00 117.00 - - Reiterates

it's a shame that NMX3720 (HG+HC Index) has such a wide spreead and is so heavily weighted with/by RB. as that would make a really good good spread across a sector that ought to benefit over the coming months

NMX2350 (C+M Index) should also do well, even if that tends to be quite dozy