25th Sep 2013 07:31
LONDON (Alliance News) - Topps Tiles PLC Wednesday said that it expects full-year revenues to be level with the prior year, with a slight increase in profits.
In a pre-close trading statement, before the release of its full years results on November 26, the UK tile retailer said that it expects revenues for the full year ending September 28, to be broadly flat at GBP177.7 million. It said that it expects like-for-like revenues to be down 0.5% on the prior year.
The company said that it is expecting to report an adjusted pre-tax profit of around GBP13.0 million at the end of the financial year, compared with GBP12.8 million a year earlier.
Topps Tiles said that during the year is opened 18 new stores, and closed or relocated 15 stores, and is now trading from 328 stores.
"After the declines seen in the second and third quarters, sales over the final three months of our financial year have been broadly level on a like for like basis which provides encouragement for the year ahead," said Chief Executive Officer Matthew Williams in a statement.
In early trading Wednesday, Topps Tiles shares were quoted at 85.50 pence, down 0.50p.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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