7th Jan 2014 08:49
LONDON (Alliance News) - Topps Tiles PLC Tuesday said that it traded strongly in the first quarter of the new financial year, but remains both optimistic and cautious about maintaining such strong sales growth going forward.
The tiles retailer said that like-for-like revenues for the 13 weeks to December 28 increased by 9.3%, compared with sales growth of just 1.6% a year earlier.
It said that by the end of the quarter it had a total of 328 stores.
"Whilst we are encouraged by this and remain optimistic about prospects for 2014, at this early stage in the year we remain cautious of projecting forward this level of performance. Trading over the second quarter will be key in this regard," said Chief Executive Officer Matthew Williams in a statement.
The group said that there have been no significant or unexpected changes in its financial position since the end of its previous financial year on September 28.
Topps Tiles shares were trading 1.7% higher in early trading Tuesday at 131.25 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Topps Tiles