Topps Tiles expects first-half underlying pre-tax profits to jump 70% to £8m after a strong sales performance.
The retailer expects operating costs to increase in the second half but is still “very confident” of meeting full year profit expectations. The consensus expectation for adjusted pre-tax profit for the year to September 27, 2014 is £16.4m.
The 330-store tiles specialist expects like-for-likes to jump 10% and total sales to climb 11.6% to £97.5m in the 26 weeks to March 29.
Topps Tiles chief executive Matthew Williams said: “With the strong start we made to the year being sustained into the second quarter, we now expect a significantly improved profit performance year on year.
“We are continuing to focus on our strategy of taking further market share and remain optimistic about prospects for the business.”