Topps Tiles Regulatory News (TPT)

5 Jul 2006 07:01

Topps Tiles PLC05 July 2006 Topps Tiles Plc Third Quarter Trading Update Topps Tiles Plc ("the Company"), the UK's largest ceramic tile and wood flooringspecialist, today announces a trading update for the third quarter, which coversthe first 13 weeks of the second half of the financial year ending 30 September2006. Compared to the same 13 week period last year, overall revenue growth was up5.8% (year to date: +2.7%) and like-for-like revenues were flat (year to date: -2.7%), reflecting the resilience of the business model in a consistently toughUK trading environment. The Board remains encouraged by the third quarter performance set against thefirst half of the financial year, when like-for-like revenues were down 4%. There has also been a further improvement in gross margin, since the half yearend. The Company remains on track to open its target net 24 new stores for the fullfinancial period and by the end of the third quarter had opened 18 stores. The Company continues to grow market share and the Board remains confident ofachieving further progress in the final quarter of this financial year. - ends - Analyst conference call: Nick Ounstead, CEO, will be hosting an analyst conference call at 9.00am (BST)this morning (Wednesday, 5th July, 2006). The details are as follows: Participant dial-in no: +44 (0) 208 515 2306 Chairperson: Nick Ounstead, CEO, Topps Tiles Conference call title: Topps Tiles Announcement 05.07.06 For further information please contact: Topps Tiles Plc Nick Ounstead, CEO: 01625 446700 Barry Bester, Co-Chairman: 0208 269 1900 Bell Pottinger Alexandra Walton/Ben Woodford: 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange