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

4 April 2018



Topps Tiles Plc



H1 Trading Update

Trading

Topps Tiles Plc (the "Group"), the UK's largest tile specialist, announces a trading update for the 26 week period ending 31 March 2018. The Board will announce interim results for the period on 22 May 2018.

Total revenues for the 26 week period were £109.4 million (2017: £106.6 million).

Like-for-like revenues for the 26 week period increased by 0.6%.

The Group ended the period with 376 stores, having opened 5 and closed 3 stores during the first half.

Trading in the second quarter has seen a slow down from the levels reported in Q1, with like-for-like sales down by 2.2%. While we estimate that short term weather factors in late February and March, and the timing of an earlier Easter, account for around 1.6% of the second quarter like-for-like sales reduction, it is also clear that that there has been a softening of the underlying market. We believe that we have continued to outperform the market which we attribute to the execution of our strategy and continued strong promotional positioning.

StockMarketWire.com
Topps Tiles said its first-half profit slipped by a third after severe winter storms kept customers away and input and marketing costs rose.

Pre-tax profit fell by 33% to £6.4m, as revenue increased 3.7% to £110.5m.

Like-for-likes sales grew by 0.6%, reflecting strong first-quarter growth of 3.4%, offset by a 2.2% fall in the second quarter when the storms bit.

The company held its interim dividend steady at 1.1p per share.

In the first seven weeks of the second half, like-for-like sales were down 0.2%.

'While we are retaining a cautious view of market conditions for the remainder of the year, we remain confident in our ability to continue to extend our market leading position,' Topps Tiles said

StockMarketWire.com
Flooring retailer Topps Tiles said it expected to post a full-year profit ahead of market expectations after like-for-like sales improved in its fiscal fourth quarter.

Adjusted revenue for the year through 29 September was expected to rise moderately to £215m, up from £211.8m on-year.

Like-for-like revenue for the year was flat, though it improved by 1.2% in the final quarter.

'Trading over the fourth quarter has seen an improvement due to a combination of the continued effectiveness of our strategy and outperformance of our market,' Topps Tiles said.

'As a result, the board now expects adjusted pre-tax profits for the year will be slightly ahead of the top end of the current range of market expectations.'

'Looking ahead, the uncertainty in the UK economic outlook means we remain cautious and will be maintaining our focus on our industry leading gross margins, tight cost control and strong underlying cash generation.'

Liberum Capital today reaffirms its buy investment rating on Topps Tiles PLC (LON:TPT) and raised its price target to 95p (from 90p).

StockMarketWire.com
Topps Tiles said its sales had slipped in the first quarter amid a 'challenging market backdrop'.

Like-for-like sales for the 13 weeks through 29 December fell by 1.4%, the company said.

'Against a challenging market backdrop and a strong period of performance in the prior year we believe the business has performed robustly over the first quarter,' chief executive Matthew Williams said.

'We remain excited by both the opportunity for profitable growth that our expansion into commercial segment will bring and the continued opportunity to further strengthen our market leading position overall.'

Topps Tiles said it continued to make 'good progress' with its plans for commercial. For example, it had recruited an experienced salesforce and was evaluating opportunities to further strengthen the team.

'We are building an encouraging pipeline of future potential projects and are on track to open two new showrooms during the second quarter; bringing the total to four,' it said of the new commercial business.