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27 Sep 2011 07:00
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27 September 2011
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Topps Tiles Plc
Pre-close period Trading Update
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Topps Tiles Plc (the "Group"), the UK's largest tile and wood flooring specialist, reports on trading for the 52 week period ending 1 October 2011, prior to entering its close period. The Board will announce preliminary results for the period on Tuesday 29 November 2011.
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We expect to report that overall UK revenues for the 52 week period will be in the region of Β£175.7 million (2010: Β£182.4 million). When restated on a same reporting week basis the total revenues will be approximately 1.7% below the prior year. Like-for-like revenues are expected to show a decrease of 1.9% (2010: increase of 1.7%).
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The Board expects adjusted pre-tax profit for the 52 week period to be within the range of analysts' estimates 1.
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The Group will end the year with a total of 320 stores in the UK, having opened 15 during the financial period and closed or relocated 7 during the same period.
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There have been no significant unexpected changes in the financial position of the Group since the publication of the Interim Report for the half year ended 3 April 2011.
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Notes:
1 The current range of analysts' estimates for adjusted pre-tax profits for the 52 week period ending 1 October 2011 starts from Β£12.9 million with a consensus estimate of Β£13.4 million.
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Enquiries:
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Emma Kent / Duncan Mayall
Pelham Bell Pottinger 020 7861 3232
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Matthew Williams, Chief Executive Officer
Rob Parker, Finance Director 0161 486 2400
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