Topps Tiles Regulatory News (TPT)

26 Sep 2007 07:01

Topps Tiles PLC26 September 2007 TOPPS TILES PLC Pre-Close Trading Update and Directorate Change Topps Tiles Plc (the "Company"), the UK's largest ceramic tile and wood flooring specialist, is providing the following update to trading for the 52 weeks ended 30 September 2007, prior to entering its close period. The Company expects to report overall revenue growth of approximately 15% to£208m (2006: £180.2m) with like-for-like revenues for the period expected to be4.6% above the same period last year which has been achieved despite thecontinuing challenging retail market. The Board expects operating profit, forthe period, to be in the region of £44 million (2006: £40.0 million) to giveprofit before tax of approximately £38 million (2006: £39.1 million). The UK is expected to show overall revenue growth in excess of 11% (2006: up 4.0%) with like-for-like revenue up 4.5% (2006: -1.8%). Holland will show overall revenue growth in the region of 29% (2006: 28%) and like-for-like revenue up 10% (2006: 15.3%). The Group's new store opening target of net 30 new stores in the UK and a net 5in Holland has been met. The group now has a total of 302 stores in the UK and20 in Holland. Directorate Change Topps Tiles announces that Matt Williams, who was appointed Chief OperatingOfficer in 2004, will be appointed Chief Executive Officer with effect from 1November 2007. Nick Ounstead, current Chief Executive Officer will be appointed to BusinessDevelopment Director remaining on the executive Board. Nick will take onresponsibility for buying, overseas and Group business development. The Company will announce its results for the 52 weeks ending 30 September 2007 on Tuesday 27th November 2007. For further information please contact: Ann-marie Wilkinson / Emma Kent / Antonia CoadBell Pottinger Corporate & Financial: 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange