1st Dec 2015 08:05
LONDON (Alliance News) - Topps Tiles PLC on Tuesday said its pretax profit edged higher in its last financial year thanks to good revenue growth, though like-for-like sales slowed over the course of the year and has continued this trajectory in the first weeks of its current year.
The tiles specialist said its pretax profit for the 53 weeks to October 3 was GBP17.0 million, compared to a GBP16.7 million profit for the 52 weeks to September 27, 2014.
Group revenue for the year was GBP212.2 million, compared to GBP195.2 million a year earlier, but like-for-like revenue growth slowed significantly in the year, down to 5.4% from 8.1%.
That like-for-like slowing has continued in the first eight weeks of the group's 2016 financial year, falling to 3.3% from 5.8% in the comparable period a year earlier, though the company said it is in line with its expectations.
Topps will pay a final dividend of 2.25 pence per share, up from 1.60p, taking its total dividend payout to 3.00p from 2.25p.
"The group has entered the period in good shape and with a clear purpose, and we remain energised by the multiple growth opportunities open to the business in the years ahead," said Chief Executive Matthew Williams.
By Sam Unsted; [email protected]; @SamUAtAlliance
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