Topps Tiles Plc (LSE:TPT) posted a strong performance in the third quarter of 2025, with group adjusted sales rising by 10.1%, outpacing the growth seen in the year’s first half. Sales gains were recorded across all divisions, with notable strength in trade sales, alongside an uptick in active trade customers and online revenue. Despite a challenging cost backdrop, the company anticipates improved gross margins and expects operating costs to increase at a slower pace than gross profits.
Strategically, Topps Tiles continues to progress its Mission 365 plan, emphasizing digital innovation and expansion of its business-to-business sales channel, laying a foundation for sustained growth in both sales and profitability.
While the company faces financial pressures such as elevated leverage and falling profitability, recent corporate developments and strategic efforts offer promise for a turnaround. Technical signals and valuation suggest a cautiously neutral to slightly negative market stance.
About Topps Tiles
Topps Tiles Plc stands as the UK’s largest specialist tile supplier, serving domestic, commercial, and housebuilding sectors. The company reaches customers through 297 stores nationwide, a commercial showroom in London, and various online platforms, catering to homeowners, trade professionals, contractors, architects, and designers.
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