Topps Tiles has reported solid progress in the first half of its financial year, driven by growth across key business areas. For the six months ending 29 March 2025, adjusted sales increased by 4.1% to £127.8 million, while adjusted pre-tax profit rose 3.2% to £3.2 million.
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The retailer highlighted the success of its efforts to modernise the trade digital experience, with trade traffic increasing four-fold. Online trade sales grew by 85%, and total trade sales rose by 12%. Additionally, expansion into new categories boosted sales in new coverings by 17%.
Topps Tiles has also focused on developing its business-to-business segment, particularly through its Pro Tiler Tools and Tile Warehouse businesses. The recent conclusion of the Competition and Markets Authority (CMA) investigation into its acquisition of CTD found minimal competition concerns, clearing the way for further growth in this area.
Chief executive Rob Parker said he was "pleased with the progress" made, noting an improving sales trend that helped offset inflationary cost pressures and resulted in a small increase in underlying profitability. He also pointed to a strong start in the second half, with adjusted sales up 9.5% year-on-year in the first seven weeks, and like-for-like sales rising 6.2%.
Parker added that the group has 'a clear plan to move CTD into profitability by the final quarter' and expects 'full year profits to show a meaningful improvement over the prior year.'
Overall, Topps Tiles' balanced approach to omnichannel growth and strategic expansion positions it well for continued success in the year ahead.
Source: www.theretailbulletin.com