Topps Tiles achieved an increase in like-for-like sales of 1.2% in its fourth quarter and will beat full-year earnings expectations.
Topps said it had outperformed the market and adjusted profits will now come in “slightly ahead of the top end of the current range of market expectations”.
Topps reported that in 52 weeks to September 29, adjusted revenues are expected to come in at about £215 million versus £211.8 million the previous year.
Like for likes over the 52 weeks were flat versus a decline of 2.9% the previous year.
Topps launched 25 new exclusive product ranges over the year and focused on “great value” and service.
Chief executive Matthew Williams said: “I am pleased to report an improvement in trading over the final quarter which has enabled the group to post a full-year sales result which is slightly ahead of the top end of market expectations and which represents an outperformance of the overall tile market.
“Our core business is a well-invested, cash-generative market leader with a proven strategy and we continue to make good progress with our expansion into the commercial segment of the UK tile market which will be an important source of future growth.”
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