Topps Tiles (LSE:TPT) expects full-year adjusted pre-tax profit to be in line with market forecasts after reporting group revenue of approximately £292 million for the year.
Group revenue declined 1.3%, reflecting the annualisation of CTD and Topps store closures. Excluding CTD, revenue increased 0.7%, while like-for-like sales were broadly unchanged.
The company said its sales performance compared with a decline in the wider home improvement market during the period.
Pro Tiler Tools and Online Sales Grow
Topps Tiles reported growth at its Pro Tiler Tools business and increased sales through its online channels during the year.
The group also completed its cost-saving and store optimisation programme and continued to expand its product offering into additional hard-surface categories.
Topps Tiles recently completed the acquisition of premium retailer Fired Earth, which the company expects to be accretive to profit.
Topps Tiles Expands Hard-Surface Offering
Topps Tiles sells tiles and related hard-surface products to retail and trade customers through physical stores and digital channels in the UK.
Alongside the Topps Tiles business, the group operates Pro Tiler Tools and CTD and has expanded its portfolio through the acquisition of Fired Earth.
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