7th Jan 2026 10:11
(Alliance News) - Topps Tiles PLC on Wednesday said its revenue growth outperformed the market in the first quarter of the 2026 financial year.
The Leicestershire-based tile retailer said revenue rose 3.7% on-year in the 13 weeks to December 27.
Revenue in the Topps Tiles brand delivered a "robust performance" and increased 2.0% on a like-for-like basis, supported by a continued strong performance in trade which rose 3.7% on-year, the firm said.
Like-for-like sales growth for the fifth consecutive quarter helped to mitigate the impact of the continued cost inflationary environment, the company explained.
Including CTD, group sales rose 1.6%, as Topps Tiles noted that the CTD operation is now smaller than it was in the prior year.
Topps Tiles agreed a GBP9 million purchase of 30 CTD Tiles stores in August 2024, but following a phase 1 investigation, the UK Competition & Markets Authority found a small number of sites created competition concerns.
As a result, the company said it would sell four CTD stores, the last of which was disposed in December. Topps Tiles now trades from 22 CTD stores.
The remaining CTD stores delivered consistent like-for-like growth of 4.7% in the period, Topps Tiles said.
"The group continued to deliver growth in Q1 across each of our existing businesses and delivered like-for-like growth in CTD stores, whilst achieving some significant milestones, including appointing an interim and permanent CFO, closing the CMA process with CTD and acquiring Fired Earth assets," said Chief Executive Officer Alex Jensen.
"We are confident of delivering another year of progress both strategically and financially," Jensen added.
In December, Topps Tiles acquired the Fired Earth brand, website and stock and said it had worked to establish a fully operational supply chain and transactional website by December 16.
"As a result, the group has been able to fulfil strong demand from customer orders and looks forward to optimising the Fired Earth opportunity in 2026 and beyond," it said.
Shares in Topps Tiles rose 4.2% to 46.36 pence each in London on Wednesday morning.
By Jeremy Cutler, Alliance News reporter
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