Topps Tiles sales hit a new high
Topps Tiles, which has sites in Cannock, Great Barr, Kidderminster, Lichfield, West Bromwich and Wolverhampton, said sales hit a new record for the year to October 3.
The UK's largest tile specialist saw revenue was up 8.7 per cent to £212.2 million with like-for-like sales up 5.4 per cent.
Pre-tax profit was ahead 1.8 per cent to £17 million with the final dividend up from 1.6p per share last year to 2.25p, making a total for the year of 3p per share - an increase of 33 per cent.
Topps achieved its strategic goal of taking £1 in every £3 spent in the UK domestic tile market one year early and saw its seventh consecutive year of market share gains.
Trade sales increased to 50 per cent of the total from 46 per cent, driven by growth of its trade loyalty programme.
Topps, which has 346 stores, opened 19, closed nine and relocated two. There were also 13 refits completed in the year.
In the first eight weeks of the new financial year like-for-like revenues has increased by 3.3 per cent.
Chief executive Matthew Williams said: "I am pleased to report that Topps delivered a strong performance for the year, with our focus on convenience, inspiration and range driving sales to a new record and enabling us to hit our strategic goal of a one third share of the domestic tile market a year ahead of schedule.
"Our strategy of 'Out-Specialising the Specialists' continues to be very effective and will remain at the heart of what we do as we seek to build on these foundations and target further profitable sales growth."
