Sales rise at Topps Tiles

SALES at Topps Tiles rose 0.2pc for the 26 weeks to March 30 while it opened six stores but closed 13.

Although sales fell 1.4pc in the first quarter, this was offset by a 1.8pc rise during the second.

Total revenues of £108.8m during the period were down from last year’s £109.4m.

Topps, which has 361 stores, has already launched 20 new product ranges this year. Analysts at Liberum greeted the rising sales, saying: ‘ This reflects a resilient performance in a tough market and gives us confidence the group’s strategy can capture the longer-term opportunities.’

Topps Tiles’ chief executive Matthew Williams said: ‘I am encouraged by our overall performance.’