Topps stacks up well

Topps Tiles maintained it is on track to meet its 350-store target as it revealed impressive interim results, with profits up 40 per cent.

Group turnover at the retailer rose 13.4 per cent to£87.5 million for the 26 weeks to April 2. Like-for-like sales were up 8.5 per cent. Profit before tax increased by 40.1 per cent to£21.8 million. Like-for-like sales for the first six weeks of the second half were up 1.8 per cent.

Topps Tiles chief executive Nick Ounstead (pictured) said: 'Our store roll-out continues apace and, while the trading environment has become more demanding in recent months, we believe our strong competitive position, coupled with the strong underlying drivers of the UK DIY market, will enable business to continue to deliver benefits to customers and value to shareholders.'