Topps Tiles sales surge beats forecasts

- Forecasts busting sales- Started new financial year strongly- Cautiously optimistic about future tradingFlooring specialist Topps Tiles reported a better-than-forecast rise in trade over the last month and said it started its new financial year on a strong footing.The group, which now operates from 328 stores, said like-for-like (LFL) sales during the 13 weeks to December 28th rose by 9.3% from the same period a year earlier, beating analyst forecasts of up to 7%. The upbeat trading figure excludes new branches.For the same period in 2012, the group recorded a more modest 1.6% increase in LFL sales.Chief Executive Officer Matthew Williams said: "Topps traded strongly over the first quarter, with an acceleration in like for like sales growth over the final month of the period. "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." Topps Tiles said its financial position is unchanged since its last update.CJ Topps Tiles