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

What rumours?
2517

FT comment.. Carpetright could attempt to buy Topps Tiles...

http://www.ft.com/cms/s/ebce28b8-db90-11dd-be53-000077b07658,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Febce28b8-db90-11dd-be53-000077b07658.html&_i_referer=http%3A%2F%2Fsearch.ft.com%2Fsearch%3FqueryText%3D%2Btopps%2Btiles%26x%3D18%26y%3D9

Thanks mitzy, must confess I hadn't seen that, although I would have thought Carpetright had enough problems of their own.
2517

Well I would have thought the same George but looking ahead I guess it would might make sense.

I'm out but will take a look later.

Wow thats a bad chart glad I sold out now I had a lucky escape.

A bargain 10p.

Nice to see Brokers giving BUY recos in last couple of days....

Topps Tiles PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

KBC Peel Hunt Ltd
18-05-09 BUY 10.13 4.11 11.47 4.66

Singer Capital Markets Ltd
18-05-09 BUY 9.00 3.60 9.30 3.70 1.90

smashed the KBC P H pre tax forecast by a mile.

Our current forecast PBT for Topps Tiles, of 10.1m for the full year and 5.7m for the six months to 31 March 2009, .............Adjusted they have done 7.5m pbt.

Plus debt under contol and have an eye on competitors going under.

Excelent results given the turmoil of the markets.

bullish analysis from Pro TAer Zak Mir across the road....

Zak Mir



Reged: 28/06/07
Posts: 834
Re: Topps Tiles.
#447051 - 27/05/09 07:13 AM Edit Reply Quote



Yet another stock with a May 50 / 200 day moving average golden cross, something which implies that above the 10 day moving average at 64p we could hit a line of resistance from March to 85p in coming weeks.

up 12.5% now @ 73

Long may it continue, as a long term holder and frequent topper upper @ a variety of prices this is good news, but there's some way to go before I am back in profit.
2517

Are we reading news from different companies?

The profit is terrible - and I see no improvement in housing, even if all the B2L properties were destroyed tomorrow . . . . like cars, there is an oversupply of property in the UK .. . . . Mortgages are tight and the likelyhood is that few will be spending money on their houses, unless the bathroon suddenly melts in the warm weather.
The sp should be sub-40p IMHO, as the prospects here are pretty dire.

Good luck, let's hope I'm wrong, eh.

hangon---------I agree the basic results look poor, albeit better than the city was expecting, which in some part is probably responsible for the rise along with the debt being reduced, and the tone of management re benefitting from weaker co's going out of business. Just a few months ago it was being bandied about that TPT could be a casualty, so in that context these were good imo.
2517

Profits warning & broker note from Shore Capital:
"Topps Tiles last reported Q1 LFL sales up 5.5% for the 14 weeks to 25th December and today has reported H1 LFL sales up 2.1% for the 27 weeks to April 3. This implies LFL sales were down 1.6% for the remainder of the period and have stalled. Like Carpetright and the DIY players, this confirms that hard-line retailers have seen more difficult trading conditions post Christmas whereas the clothing sector has been robust. Obviously the weather would not have helped in January, but in keeping with its peers, sales appear to have failed to pick up since.
Gross margin and costs on-track Management has confirmed it is still happy with its previous guidance on both gross margin and operating costs. The general promotional environment has been steady throughout the period. It expects H1 gross margin to be mid 58% and H2 gross margin high 58%. On the cost side, Topps Tiles is still quiet on the advertising front (it saved �3.5m last year when it cut its advertising right back) and given the subdued sales line, higher staffing levels have not been needed yet. 2010 PBT downgraded by 20% Due to weaker sales, we have cut our September 2010F PBT by 15% to �17.1m. This assumed flat H2 LFL sales growth. We are forecasting year end net debt of �51m, down from �76m at the end of September 2009, helped by its �12m capital raising last November and internal cash generation. Given the lower base, we have cut our 2011F PBT by 15% to �20.4m which assumes 2% LFL sales growth."

Back in on this a couple weeks ago and already breaking higher. Not sure what was driving it today unless it was the bullish UK data out??

Topps Tiles looks to be staging some kind of recovery over the last few days. One to keep an eye on..........



Look at the lower indicators just turning positive.

Might be against the market in general but also might be worth the risk so Ive had a few earlier on today.

Topps Tiles flags 4% rise in Q4 like-for-like revenue

StockMarketWire.com

Turning the tide hopefully here following recent retracement. Time to retest the highs after very encouraging results.

Oversold today.?

One of the few risers today.