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

Thanks for info Stockdog. Much appreciated!
Looked at website and found it a rather good introduction to technical analysis!

Unfortunately the SP is under pressure mainly since other retailers have come up with their (better than expected!) results, but all with rather cautious outlook for the next six months - SP has come from a high of 224p on Tuesday to today's 204 ish, that's almost -10% in less than 4 sessions!

......was wondering if the charts were showing a continuous downward movement to possibly re-test the 190s ??

Thanks for replying.

Oddie

p.s

Stockdog,
I guess that since SP has dropped 20p your trailing stop loss has kicked in...
are you out of TPT now? anyway, hope you've made some good money..!!

O.

Au contraire - I still show a modest unrealised gain, sine I have kept my stop loss at 199p, just below the significant 200ish level whilst this minor retracement passes through - or becomes a definitive reverse and does stop me out!

I got royally screwed by AGA yesterday. Having opened a sell at 320 on Wednesday with a stop at 331p, the SP rose within minutes of my trade to 330.75 and tipped over into 332 for a few minutes yesteday morning, before retreating to the mid 320's from where for all I know it will continue ots decline as I predicted -pooh!

sd

Hello all,

Great to see sp recovering back to 220p's (levels last seen on results day before dropping back to 190's). I guess Carpetright's figures were really quite positive and encouraging which helped sentiment + Mortgage approvals are at the highest levels. 250p-270p does seem achievable by next results in June. The charts must be looking really strong... does anyone agree?

Thanks for replying.

Oddie

Evolution add recommendation, with target price of 245p
2517

Indeed 2517GEORGE -

From THE TIMES today:

"Topps Tiles put on 10p to 220p as a move into positive like-for-like sales at Carpetright, off 13p to 10.88, prompted Evolution Securities to repeat its 245p target on the tile retailer. Nick Bubb, analyst, notes that Carpetright trades at a 20 per cent premium to Topps, even though the formers 30 per cent market share in the UK gives it less room to grow than the latter."

TPT is the recovery play for 2006 according to many analysts, brokers etc...

Good luck to all & well done to those who had faith and held tight through the turbulent times!!

Oddie

Hello all.

I've noticed that both AXA and FIDELITY have recently bought a sizeable stake in Topps Tiles.

At the current price, 225p, it is too cheap, it's obvious, and the broker's 245p target is too low I believe.

If you compare TPT to Carpetright, it's trading at a big (and unfair) discount, so I'm wondering if a re-rating is on the cards for TPT?

A takeover story would not be too bad either....

Any ideas?

Oddie

Thanks for replying.
p.s this board has gone quiet...

Oddie
I have also noted that there has been far more selling than buying over the last week or so, but the sp is solid around 225p.
2517

Break through today above the 230p resistance on trading update wihch seems to be well accepted by the market. More tomorrow?

Hopefully stockdog. The news on first reading didn't look overly good but a broker upgrade and rising sales line was enough to break through 230p. I think there may be a little bit of profit taking but I also think we will reach the 250-270p range of this thread title by the beginning of the summer.

Hope so, queen1 - my small up s/b was triggered by rising through 232p first thing, a couple of pence clear of the resistance line (the immediate retracement was a bit hairy, but we seemed to make it through the day OK in the end). Here's hoping I don't get stopped out before we hit 270p.

Fingers crossed!

Well we've entered the bottom of the range for the tread title (250p). Where to now I wonder?

And does anyone have any views on the 54p per share offer?

Topps Tiles reports modest progress

Topps Tiles said it expects its first-half pretax profit to be about 18.3 mln stg against 20.3 mln a year ago. The UK's largest tile and wood flooring specialist expects operating profit for the 26 week period to March 31, 2007 to be about 21.0 mln stg compared with 19.5 mln in 2006.

Overall group revenue is expected to be in the region of 101.8 mln stg, up 14.9 pct from last year, despite a continuing tough retail market, while like-for-like sales are anticipated to be up 4.4 pct.

Topps Tiles added its current period overall revenue reflects, for the first time, the revenue from the Dutch stores following the acquisition of its joint venture business in October.

The company also said its executive chairman Barry Bester will move to the position of non-executive chairman with effect from October 1.

Although down 1.75p I believe TPT has gone ex div today so a reasonable day for them, so far. I have been increasing my holding over recent months at these depressed levels, at some stage retail will be back in vogue, but maybe not until 2009. I'm content to wait and look forward to the decent dividends until the sp appreciates.
2517

Well after a promising start due no doubt to a favourable comment in the FT over the weekend TPT ended in the red, my top-ups were @ around 30p above the current sp so looks to have been much too early. Right across the sector prices are as low as they have been for years, and with good reason, but at some stage retail will recover.
2517

May be this is the start of that recovery, in the main retail is stonger today.
2517

This is quite some rise, any ideas.
2517

Dropped back to 140 ish from recent spike up to 170p (no idea why it shot up, has anyone else) and seems to be on the move again, maybe somebody stake building perhaps?

I thought of going onto the 'Talk to yourself thread' but looking at the posts it seems I'm already there. Ha! Ha!
2517