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5 Aug 2009 07:00
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Topps Tiles Plc
TheΒ UK's largest tile and wood flooring specialist
InterimΒ ManagementΒ Statement
Β
Topps Tiles Plc (the "Company"), theΒ UK's largest tile and wood flooring specialist, reports on trading for theΒ 18Β weeksΒ endedΒ 1stΒ AugustΒ 2009.Β Β
At theΒ halfΒ year results announced onΒ 27Β May 2009, we reported that for theΒ first seven weeks tradingΒ ofΒ the new financial period overall Group revenues declined 9.6%, withΒ like-for-like revenues declining byΒ 11.9%. Although tradingΒ conditionsΒ in the firstΒ 18Β weeksΒ of our new financial period remain challenging,Β reflectingΒ the ongoing weakness in consumer confidence, the Group is on track to meet management's expectations for the full year. Overall revenueΒ declinedΒ byΒ 9.9% (2008:Β downΒ 3.0%) and like-for-like revenue declined by 10.9% (2008: down 8.0%).
In theΒ UK, we are trading from a total ofΒ 312Β stores, having openedΒ 5Β new stores, and closed or relocatedΒ 13Β this financialΒ year.
InΒ HollandΒ we are trading fromΒ 13Β stores, having closedΒ 9Β since the end of March.
There have been no significantΒ unexpectedΒ changes in the financial position of the Group since the publication of theΒ InterimΒ Report for theΒ half yearΒ ended 28Β March 2009.
Β
Enquiries:
Ann-marie WilkinsonΒ /Β Laura Pope
BellΒ PottingerΒ Corporate & Financial 020Β 7861 3232
Matthew Williams, Chief Executive Officer
Rob Parker, Finance DirectorΒ 0161 486 2400
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