Trading Update

3 Oct 2006 07:00

Topps Tiles PLC03 October 2006 TOPPS TILES PLC Trading Update Topps Tiles Plc (the "Company"), the UK's largest ceramic tile and wood flooring specialist, announces a trading update for the 52 weeks ended 30 September 2006. The Company expects to report overall revenue growth of approximately 4% to £180.2m (2005: £173.3m) with like-for-like revenues for the period expected to be 1.8% below the same period last year. Accordingly profit before tax for the period is expected to be in the region of £39.0m after exceptional costs of approximately £1.1m relating to the recent return of cash to shareholders(2005:£39.2m including £1.7m of exceptional profit). Although the market remains challenging, the Company has seen an improvement over the last 5 weeks with overall sales increasing by 9.0% and like for likesales increasing by 1.9% over the same period last year. The Company also announces that on 2 October 2006 it acquired the remaining 50% shareholding of the Dutch 50:50 Joint Venture. The Company currently tradesfrom 15 stores in Holland and intends to increase its new store opening programme to a minimum of 5 new stores each financial year. The Company will announce its results for the 52 weeks ending 30 September 2006 on Tuesday 28 November 2006. - ends- For further information please contact: Ann-marie Wilkinson/Sarah Landgrebe /Alexandra Walton Bell Pottinger Corporate & Financial: 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange