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Topps see profits dip despite growth

Topps Tiles have seen a dip in pre-tax profits for the year ending September 29, despite an impressive increase in turnover.

Topps see profits dip despite growth

Total revenue for the 52-week period jumped 15.4% to £207.9m. However, pre-tax profits dropped from £39.1m to £37.8m in the same time.

Chief executive Matt Williams described trading conditions as “tough” but said the company would be remaining optimistic about the bigger picture moving forward.

“We have had a challenging but positive start to the new financial period and there remains an underlying growth trend in the retail tile market,” he said. “While we believe the prospects for the future growth of Topps Tiles remain broadly positive we must not underestimate the potential impact that this year’s turmoil in financial markets will ultimately have on consumers.”

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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