Like-for-like sales expected to rise 4.6% at the home improvement retailer, while sales are tipped to increase 15%
In a pre-close trading update today, specialist home enhancement retailer Topps Tiles said that it expected a 4.6 per cent like-for-like sales rise in the 52 weeks to September 30, beating challenging trading conditions.
Total sales are expected to have risen 15 per cent over the period to reach£208 million. In the UK, comparable store sales should show a 4.5 per cent improvement and the overall figure should be up 11 per cent. In the Netherlands, respective rises of 10 per cent and 29 per cent are expected.
Topps is expecting an operating profit of£44 million for the period, up£4 million. Pre-tax profit is expected to come in at£38 million, compared with£39.1 million for the previous year.
Panmure Gordon analyst Christian Koefoed-Nielsen said: “Topps is competing strongly against the large DIY generalists through superior ranges, pricing and service.”
The results will be announced officially on November 27.
Separately, chief operating officer Matt Williams is to be promoted to chief executive from November 1. Incumbent boss Nick Ounstead will remain on the board, but will switch roles to become business development director, responsible for buying, overseas and group development.
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