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27 Sep 2011 07:00
27 September 2011
Topps Tiles Plc
Pre-close period Trading Update
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.
We expect to report that overall UK revenues for the 52 week period will be in the region of £175.7 million (2010: £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%).
The Board expects adjusted pre-tax profit for the 52 week period to be within the range of analysts' estimates 1.
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.
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.
Notes:
1 The current range of analysts' estimates for adjusted pre-tax profits for the 52 week period ending 1 October 2011 starts from £12.9 million with a consensus estimate of £13.4 million.
Enquiries:
Emma Kent / Duncan Mayall
Pelham Bell Pottinger 020 7861 3232
Matthew Williams, Chief Executive Officer
Rob Parker, Finance Director 0161 486 2400
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