Topps Tiles Regulatory News (TPT)

26 September 2012

Topps Tiles Plc

Pre-close Period Trading Update

Topps Tiles Plc (the "Company"), the UK's largest tile specialist, reports on trading for the 52 week period ending 29 September 2012, prior to entering its close period. 

The Group has traded positively in the final quarter, with revenues estimated to have increased by 3.7% on a like for like basis.

Revenues for the 52 week period are expected to be in the region of £177 million (2011: £175.5 million), growing by c.1% year on year. Like-for-like revenues are expected to show a decrease of c.1% on the prior year (2011: decrease of 2.0%). 

The Board expects adjusted pre-tax profit for the 52 week period will be broadly in line with consensus1.

The Group will end the year with a total of 325 stores in the UK, having opened 13 stores and closed or relocated 8 during the period.

During the period the Group completed the disposal of a freehold property for a consideration of £3.1m.

There have been no significant or unexpected changes in the financial position of the Group since the publication of the Interim Report for the half year ended 30 March 2012. 

Topps will announce its preliminary results for the 52 week period ending 29 September 2012 on Tuesday 27 November 2012. 

1 The current range of analysts' estimates for adjusted pre-tax profit for the 52 week period ending 29 September 2012 is £12.7 million to £14.0 million, with a consensus of £13.1 million.

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