Topps Tiles chief executive Nick Ounstead said: 'Although the retail market continues to be tough, trading has been robust and we have delivered further revenue growth. We are on target with our UK store roll-out programme and ahead of target in Holland.
'We have consolidated our market-leading position and, with a proven business strategy and a focused management team, we are confident of continued progress in the second half of 2007.'
The tile and wood flooring retailer said that sales in the UK increased 11.7 per cent, compared with 1.2 per cent in 2006, but like-for-like sales remained sluggish at 4 per cent. In Holland, revenue surged 35.6 per cent, compared with 21.6 per cent in 2006, with like-for-likes up more than 10 per cent to 18.9 per cent.
Fifteen UK stores were opened during the period and the group said that it is on target to open a further 15 by the end of the year. In Holland, four outlets were also opened, ahead of a target five of for the year.
Seymour Pierce analyst Andrew Wade said: 'This was very much in line with expectations. The ongoing store opening programme is on track, the advertising campaign has continued and the remaining 50 per cent of the Dutch operation was acquired during the period.'
In the first six weeks of the second half, group revenue increased 10.8 per cent, with like-for-likes up 4.4 per cent, and the retailer has opened two new stores.
Wade added: 'Current trading was impressive, particularly given the hot weather, maintaining the strong performance of the first half.'
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