Topps Tiles Regulatory News (TPT)

10 Jan 2007 07:00

Topps Tiles PLC10 January 2007 Topps Tiles Plc the UK's largest tile and wood flooring specialist with 278 stores and 17 stores in Holland AGM Statement and Trading Update At today's Annual General Meeting of Topps Tiles Plc, Barry Bester, co-founderand Chairman will tell shareholders: "At the full year results announced on 28 November 2006, we reported that forthe first 7 weeks of trading in the new financial period total revenuesincreased 10.3 % and like for like revenues were up 3.3%. I am pleased to reportthat, despite a persistently tough retail market trading in the first 14 weeksof our new financial period has continued to improve with overall revenue up by12.6% (2006: up 0.7%) and like-for-like revenue up 4.7% (2006: down 5.0%). The UK showed overall revenue growth of 11.8% (2006: up 0.1%) with like-for-likerevenue up 4.3% (2006: down 5.5%). Holland showed overall revenue growth of 41.5% (2006: up 19.1%) withlike-for-like revenue up 19.6% (2006: up 8.3%) Our controlled UK store roll out programme continues and we have a stated targetof a net 30 new stores in this financial period. So far we have opened 7 storesin the period and have a strong pipeline of sites currently in development. In Holland we are now trading from 17 stores with 2 new stores opened in thisfinancial period. We have a target of 5 new stores in this financial period. Topps has consolidated its market leading position and with the UK tile marketforecast to increase in volume by over 15% by 2011, we remain confident that ourproven business model and focused management team, with the shared objective ofdriving the business forward, will continue to deliver sustainable growth forour shareholders". Enquiries: Barry Bester, Chairman 0161 486 2400Nick Ounstead, Chief Executive 0161 486 2400 Ann-Marie Wilkinson/Sarah Hilyer, Bell Pottinger 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange