ADVFN UK Market News

Category: Top Story

  • Barratt Redrow appoints EY as new external auditor following competitive tender (BTRW)

    Barratt Redrow appoints EY as new external auditor following competitive tender (BTRW)

    Barratt Redrow plc (LSE:BTRW) has appointed Ernst & Young LLP (EY) as its next external auditor after completing a formal competitive tender process overseen by the company’s Audit and Risk Committee. Subject to shareholder approval at the 2027 Annual General Meeting, EY will assume the role from the financial year ending 2 July 2028.

    Auditor transition follows UK governance requirements

    The appointment forms part of the UK’s mandatory audit tendering and auditor rotation requirements, which require listed companies to periodically review and refresh their external audit arrangements.

    Deloitte LLP, which has served as Barratt Redrow’s external auditor since 2007 and was reappointed following a tender in 2017, will remain in place for the 2026 and 2027 financial years. This phased transition is intended to provide continuity before EY formally takes over the audit engagement.

    Strong fundamentals offset by weaker technical picture

    Barratt Redrow continues to benefit from a strong balance sheet, healthy revenue growth and an attractive valuation, supported by a price-to-earnings ratio of 13.2 and a dividend yield of 6.68%.

    However, these strengths are tempered by weaker technical indicators, with the shares trading below key long-term moving averages and momentum signals indicating an oversold market. Recent deterioration in cash flow also remains a factor for investors to monitor.

    More about Barratt Redrow

    Barratt Redrow plc is one of the UK’s largest residential property developers, building and selling new homes across England, Scotland and Wales. The company develops a broad range of housing projects, from affordable homes to premium residential developments, serving first-time buyers, families and existing homeowners.

    Through its nationwide land portfolio and large-scale development pipeline, Barratt Redrow plays a significant role in supporting UK housing supply while focusing on quality construction, sustainability and long-term shareholder returns.

  • Currys grows profits and shareholder returns as Nordics deliver strong performance (CURY)

    Currys grows profits and shareholder returns as Nordics deliver strong performance (CURY)

    Currys (LSE:CURY) delivered a strong financial performance for the year ended 2 May 2026, with group revenue increasing 6% to £9.25 billion, supported by 4% like-for-like sales growth. Adjusted profit before tax rose 18% to £191 million, while adjusted EBIT increased 13% to £255 million.

    The retailer also generated free cash flow of £157 million and finished the year with a net cash position of £176 million, despite increasing shareholder distributions and making higher pension contributions.

    UK and Nordics businesses both improve profitability

    In the UK and Ireland, like-for-like sales rose 3% as Currys continued to gain market share despite a challenging retail environment. Adjusted EBIT for the division increased to £158 million, helped by continued growth in higher-margin services, consumer credit and iD Mobile subscriptions.

    The Nordics business delivered an even stronger performance, with like-for-like revenue increasing 6% and adjusted EBIT climbing 26% on a constant currency basis to £97 million. Improving consumer confidence, tighter cost control and greater operating leverage all contributed to stronger profitability and margin expansion.

    Higher dividends and buyback backed by strong cash generation

    Currys has doubled its full-year dividend to 3.0p per share and announced a new £50 million share buyback programme, reflecting confidence in its financial position and cash generation.

    The company’s capital allocation framework targets a year-end net cash balance of at least £100 million while continuing to grow shareholder returns. Management also reiterated its objective of achieving adjusted EBIT margins of at least 3% in both the UK & Ireland and Nordic operations, while keeping annual capital expenditure below £100 million and maintaining strong free cash flow.

    Leadership transition and recurring revenue remain key priorities

    Management said trading has started positively in the new financial year and remains comfortable with current market profit expectations.

    Strategically, the company continues to focus on expanding higher-margin recurring revenue streams, including services, credit products and mobile subscriptions, with a target of reaching at least 2.8 million iD Mobile subscribers by the end of the year.

    Currys will also undergo a leadership change in August, when Nordics chief executive Fredrik Tønnesen succeeds as group CEO. He is expected to continue driving growth initiatives, including expanding the company’s B2B business, which has significantly increased its addressable market.

    The group’s improving financial performance, reduced leverage, strong free cash flow and relatively low earnings multiple continue to support its investment outlook. Although technical indicators remain positive, elevated momentum measures suggest the recent share price rally may be becoming stretched.

    More about Currys plc

    Currys plc is one of Europe’s leading retailers of electrical goods and technology products, operating across the UK, Ireland and the Nordic region. The company sells a wide range of consumer electronics, domestic appliances and connected devices through its stores and online platforms.

    Alongside its retail operations, Currys has increasingly focused on growing higher-margin recurring revenue through services, consumer credit, mobile subscriptions and business-to-business technology solutions. This strategy is designed to strengthen customer relationships, improve profitability and diversify earnings beyond traditional product sales.

  • Wizz Air reports 27% June passenger growth and confirms Starlink Wi-Fi rollout (WIZZ)

    Wizz Air reports 27% June passenger growth and confirms Starlink Wi-Fi rollout (WIZZ)

    Wizz Air (LSE:WIZZ) recorded strong traffic growth in June, carrying 7.48 million passengers, a 27.2% increase compared with the same month last year. Capacity expanded by 27.5% to 8.14 million seats, while the load factor edged down slightly to 91.9%, indicating demand remained robust as the airline continued its rapid network expansion.

    Over the 12 months to June, passenger numbers increased 13.8% and capacity rose 14.4%. The airline also reached a new operational milestone by operating 1,200 flights in a single day for the first time, while maintaining strong completion rates and on-time performance.

    Starlink partnership aims to enhance passenger experience

    Wizz Air also announced plans to become the first European low-cost airline to introduce Starlink’s high-speed in-flight internet service across its fleet, with deployment scheduled to begin in early 2027.

    The addition of satellite-based connectivity is expected to strengthen the carrier’s customer offering by providing passengers with fast, low-latency internet access throughout their journey, further differentiating Wizz Air within Europe’s competitive budget airline market.

    Efficiency improves despite higher flying activity

    The airline’s environmental performance continued to improve on a per-passenger basis despite higher overall operations. Total CO2 emissions increased 15.7% year-on-year during June, broadly reflecting the expansion in flying activity.

    However, CO2 emissions per passenger kilometre declined by 3.3% to 49.5 grams, highlighting gains in operational efficiency as newer aircraft and fleet optimisation helped reduce emissions intensity.

    Growth supported by expansion despite near-term challenges

    Wizz Air continues to generate strong operating and free cash flow, supported by sustained traffic growth and an ambitious fleet expansion strategy. While recent technical indicators have improved modestly and the company’s valuation appears relatively undemanding based on earnings multiples, investors remain focused on profitability pressures, leverage and the potential impact of ongoing operational disruption.

    Management has outlined a credible multi-year fleet plan and highlighted improving liquidity, although near-term unit revenue and cost pressures continue to present challenges.

    More about Wizz Air Holdings

    Wizz Air Holdings PLC is one of Europe’s largest ultra-low-cost airlines, operating an extensive network of short-haul routes with a particular focus on Central and Eastern Europe. The carrier targets leisure travellers and those visiting friends and relatives through a low-fare business model built on high aircraft utilisation, efficient operations and dense seating configurations.

    The airline has continued to expand aggressively while investing in fleet modernisation and operational efficiency. Alongside its network growth, Wizz Air regularly reports environmental performance metrics and is investing in new technologies, including Starlink in-flight connectivity, as it seeks to strengthen its competitive position in the European aviation market.

  • US futures slip as markets await Warsh speech, manufacturing data and Qatar talks: Dow Jones, S&P, Nasdaq, Wall Street

    US futures slip as markets await Warsh speech, manufacturing data and Qatar talks: Dow Jones, S&P, Nasdaq, Wall Street

    Investors turn cautious at the start of the second half

    US equity futures traded lower on Wednesday as investors prepared for a busy day of economic events, including comments from Federal Reserve Chair Kevin Warsh, fresh manufacturing data and diplomatic developments involving the US and Iran.

    At 03:16 ET, Dow Jones futures were down 202 points, or 0.4%, while S&P 500 futures declined 33 points and Nasdaq 100 futures fell 195 points, representing losses of 0.4% and 0.6%, respectively.

    Wall Street finished Tuesday’s session in positive territory, with technology stocks leading gains after a volatile second quarter. The Philadelphia Semiconductor Index also posted another strong advance, completing its best quarterly performance since its launch in the early 1990s.

    Labour market strength keeps rate hike expectations alive

    Recent US economic data painted a mixed picture.

    Job openings for May exceeded forecasts, while housing and consumer confidence indicators weakened. Combined with hawkish remarks from Cleveland Fed President Beth Hammack, the stronger labour market data reinforced expectations that the Federal Reserve could still raise interest rates as early as July.

    Markets await policy clues from Kevin Warsh

    Attention will centre on Kevin Warsh’s appearance at the ECB Forum on Central Banking in Sintra later today.

    Since taking over from Jerome Powell, Warsh has suggested the Federal Reserve could reduce its reliance on forward guidance and reassess the way it communicates monetary policy.

    Investors will also be listening closely for his assessment of inflation and economic growth, particularly after easing oil prices reduced some concerns over energy-driven inflation following the preliminary US-Iran agreement.

    Geopolitics and manufacturing data remain in focus

    Diplomatic talks involving US and Iranian representatives in Qatar are also being monitored closely, although officials have confirmed that no direct high-level negotiations are currently scheduled.

    Meanwhile, economists expect the ISM Manufacturing PMI to edge down slightly to 53.8 in June from 54.0 in May, while the ADP employment report will provide another snapshot of the US labour market ahead of Thursday’s official payrolls release.

    Nike disappoints despite earnings beat

    Nike (NYSE:NKE) shares declined in premarket trading after the company warned that its turnaround remains in its early stages.

    Although quarterly revenue exceeded expectations, continued weakness in China weighed on overall performance.

    Chief Executive Elliott Hill told investors that results “aren’t there yet,” adding that the company is not “living up to our full potential.”

  • European stocks trade mixed as investors await eurozone inflation and central bank signals: DAX, CAC, FTSE100

    European stocks trade mixed as investors await eurozone inflation and central bank signals: DAX, CAC, FTSE100

    Markets pause ahead of key economic events

    European equity markets opened mixed on Wednesday as investors awaited the release of the eurozone’s latest inflation figures and a closely watched panel discussion featuring some of the world’s leading central bankers, including newly appointed Federal Reserve Chair Kevin Warsh.

    The pan-European STOXX 600 slipped 0.2% in early trading after reaching a record high on Tuesday. Germany’s DAX gained 0.2%, while France’s CAC 40 fell 0.3% and London’s FTSE 100 declined 0.2%. Spain’s IBEX 35 and Italy’s FTSE MIB both traded 0.3% lower.

    Inflation data expected to influence policy outlook

    Markets are focused on the eurozone’s preliminary inflation reading for June, with economists expecting annual headline inflation to slow to 3.0% from 3.2% in May.

    Investors will assess whether price pressures are continuing to ease following the European Central Bank’s recent interest rate increases, introduced in response to the sharp rise in energy prices triggered by the outbreak of the US-Iran conflict.

    Although crude oil prices have largely returned to levels seen before the conflict and shipping traffic through the Strait of Hormuz has improved, geopolitical developments remain a source of uncertainty.

    Reports from the Wall Street Journal suggested that US President Donald Trump recently considered resuming large-scale military action against Iran before deciding to continue diplomatic negotiations. Representatives from both countries are expected to participate in mediated talks in Doha.

    Sintra forum takes centre stage

    Attention will also turn to the ECB Forum on Central Banking in Sintra, Portugal, where senior policymakers from the world’s leading central banks are due to discuss the global economic outlook.

    The event will feature the first international appearance by Federal Reserve Chair Kevin Warsh since succeeding Jerome Powell in May.

    Investors look for clues on future interest rates

    Markets will closely examine Warsh’s remarks for further insight into the direction of US monetary policy.

    Although he was appointed by President Trump, who has repeatedly argued in favour of lower interest rates, Warsh has recently adopted a more hawkish tone, warning about the risk of persistent structural inflation.

    Investors will also analyse comments from European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem for indications of when major central banks may begin easing monetary policy as the impact of the energy crisis continues to fade.

  • FTSE 100 slips as investors await PMI data and monitor Iran-Qatar talks

    FTSE 100 slips as investors await PMI data and monitor Iran-Qatar talks

    Markets open lower ahead of key economic updates

    The FTSE 100 traded lower on Wednesday as investors adopted a cautious stance at the beginning of the new quarter, awaiting global manufacturing PMI releases, developments in Iran-Qatar negotiations and fresh comments from Bank of England Governor Andrew Bailey on the inflation outlook.

    The FTSE 100 fell 0.29% in early trading. Germany’s DAX eased 0.03%, while France’s CAC 40 declined 0.49%. Sterling also weakened against the US dollar, with GBP/USD falling 0.23% to 1.3232.

    Geopolitics and inflation remain in focus

    Investor sentiment was influenced by renewed diplomatic efforts in Doha, where Qatar’s Prime Minister met US envoys Steve Witkoff and Jared Kushner alongside Iranian negotiators for technical discussions described by Qatar’s foreign ministry as taking place “whether direct or indirect.”

    Meanwhile, Iran’s chief negotiator, Mohammad Bagher Ghalibaf, described the Strait of Hormuz as Tehran’s “greatest instrument of power,” adding that negotiations on a final agreement would not begin until the provisions of the existing memorandum of understanding had been implemented.

    Speaking to CNBC, Bank of England Governor Andrew Bailey said inflation would likely have returned to the central bank’s 2% target around April or May had it not been for the recent conflict.

    “It’s going to take longer,” Bailey said, pointing to a weakening economy and a softer labour market as factors allowing policymakers to remain patient despite some members of the Monetary Policy Committee favouring tighter monetary policy.

    UK inflation currently stands at 2.8% and is expected to rise towards 3.2% later this year as higher energy prices continue to feed through into the economy.

    UK housing market shows mixed picture

    New data from Nationwide showed annual UK house price growth accelerated to 2.2% in June from 1.7% in May, although prices were unchanged on a seasonally adjusted monthly basis. The average UK home is now valued at £277,484.

    Chief Economist Robert Gardner said the housing market had “softened a little in recent months” because of uncertainty surrounding the Middle East, higher energy prices and elevated mortgage rates. However, he noted that the Iran-US memorandum of understanding had helped reduce oil prices from recent highs, potentially easing pressure on interest rates.

    Northern Ireland remained the UK’s strongest-performing housing market with annual price growth of 8.6% during the second quarter, while the Outer South East recorded the weakest performance with growth of just 0.1%.

    Oil rises while gold extends losses

    Brent crude increased 0.25% to $73.13 a barrel, while US West Texas Intermediate crude gained 0.14% to $69.60.

    Gold prices continued to weaken, with gold futures falling 1.43% to $3,981.05 an ounce and spot gold declining 0.97% to $3,969.62.

    UK corporate highlights

    CMC Markets (LSE:CMCX) upgraded its FY2027 net operating income guidance after continued strong expansion in its B2B trading platform business.

    Topps Tiles (LSE:TPT) warned that full-year profit is expected to come in only slightly above £6.5 million as softer consumer demand and recent heatwaves weighed on trading.

    Greggs (LSE:GRG) announced that long-serving Chief Financial Officer Richard Hutton will retire at the end of 2026, with Ben Waldron appointed as his successor.

    Associated British Foods (LSE:ABF) maintained its full-year guidance outside its Sugar division after Primark delivered 3% sales growth during the third quarter.

  • Asos shares climb after Atlanta warehouse sale strengthens balance sheet (ASC)

    Asos shares climb after Atlanta warehouse sale strengthens balance sheet (ASC)

    Disposal supports debt reduction strategy

    Shares in Asos Plc (LSE:ASC) rose more than 8% on Wednesday after the online fashion retailer announced the completion of the sale of its Atlanta fulfilment centre, marking another milestone in its efforts to reduce debt and simplify its balance sheet.

    The transaction, which the company classified as containing inside information, includes the assignment of the warehouse to “a global consumer brand” and the sale of the site’s automation equipment to a separate purchaser.

    Asset sale delivers cash boost and cost savings

    Asos said the transaction generated net proceeds of approximately £48 million, while also reducing annual cash costs by around £6 million at current exchange rates.

    The disposal is expected to result in a one-off pre-tax profit of about £78 million, reflecting adjustments to associated property liabilities. The gain will be recognised in the company’s financial results for the 2026 financial year.

    The Atlanta sale follows several recent initiatives aimed at strengthening Asos’ financial position, including the repayment of its 2026 convertible bonds in April and the earlier disposal of its Lichfield fulfilment centre, which generated net proceeds of £67 million.

    Following the latest transaction, the proceeds will be added to the group’s cash balance of £209.5 million, as reported on 1 March.

    Chief executive Jose Antonio Ramos said: “The disposal of Atlanta is another clear demonstration of us delivering on our commitments – strengthening the balance sheet, simplifying the business and maintaining strict discipline in how we allocate capital.”

    Asos added that the transaction completes its programme of non-core asset disposals, noting that the Atlanta facility had not been operational during previous reporting periods.

  • Market Open: Primark Profit Warning, Topps Tiles Heatwave Impact

    Market Open: Primark Profit Warning, Topps Tiles Heatwave Impact

    FTSE 100 opens steady as investors monitor PMI data and geopolitics while ABF warns on profits, Topps Tiles flags weaker trading and Brent crude rises.

    Market Overview

    UK markets opened mixed, with the FTSE 100 edging 0.001 per cent higher to 10,497.60, while the Euronext 100 slipped 0.02 per cent to 1,925.91, and the DAX fell 0.04% to 24,986.41. Overnight, the Nasdaq closed higher at 26,213.72 and the S&P 500 gained to 7,499.36 as investors balanced stronger US technology stocks against caution ahead of PMI data, eurozone inflation figures, central bank commentary and developments surrounding Iran-Qatar diplomacy.

    Commodity markets reflected ongoing geopolitical uncertainty. Brent crude firmed as hopes for renewed US-Iran engagement faded, while copper and natural gas weakened and gold also fell. Against sterling, the US dollar strengthened, the euro, Swiss franc and Australian dollar were little changed, while the Japanese yen weakened. Bitcoin traded slightly higher versus sterling.

    Market Numbers

    FTSE 100: Up (+0.00%), 10,497.60
    Euronext 100: Down (-0.02%), 1,925.91
    DAX: Down (-0.04%), 24,986.41
    NASDAQ: Up, 26,213.72
    S&P 500: Up, 7,499.36

    In the Headlines

    Profit warning – Associated British Foods (LSE:ABF)
    Primark owner Associated British Foods warned full-year profits are expected to be lower after higher natural gas prices increased costs at its sugar business. The update highlights continued pressure on energy-intensive operations despite resilient retail trading.

    Retail slowdown – Topps Tiles (LSE:TPT)
    Topps Tiles said prolonged hot weather added to already challenging trading conditions, with the heatwave reducing customer footfall. The update underlines the pressures facing UK discretionary retailers despite broader signs of consumer resilience.

    Currencies (vs GBP)

    USD: Down (-0.02%), $1.3250
    CHF: Up (+0.01%), Fr.1.0716
    EUR: Unchanged (0.00%), €1.1609
    JPY: Down (-0.01%), ¥215.4925
    AUD: Unchanged (0.00%), $1.9169
    Bitcoin (BTC/GBP): Up, £44,310

    Commodities

    Copper: Down
    Gold: Down
    Brent Crude: Up
    Natural Gas: Down

  • MedPal AI Opens Landmark Robotics Hub, Surpassing Major UK Pharmacy Facilities in Scale and Capacity

    MedPal AI Opens Landmark Robotics Hub, Surpassing Major UK Pharmacy Facilities in Scale and Capacity

    MedPal AI plc (LSE:MPAL) has announced the opening of Sarus Court, its largest and most advanced robotic pharmacy dispensing and distribution facility to date, marking a significant expansion in the company’s UK healthcare infrastructure.

    The NHS-approved site in Runcorn represents a major milestone in MedPal AI’s growth strategy, combining large-scale automation, AI-driven workflow systems and high-volume dispensing capability within a single integrated facility.

    A major leap in scale and automation

    Sarus Court spans approximately 23,000 sq ft when fully completed, making it the largest robotic pharmacy facility in MedPal AI’s network. The site is designed to process more than 10,000 prescription items per day at full capacity, scaling from an initial operational level of over 2,000 items per day as commissioning progresses.

    Backed by more than £1 million of investment in robotics, automation and proprietary pharmacy technology, the facility is engineered to deliver high-efficiency dispensing at scale, supporting both NHS and private prescription services through a direct-to-patient model.

    At full output, Sarus Court will be capable of handling more than 300,000 prescription items per month, placing it among the highest-capacity automated pharmacy operations in the UK.

    Positioned among the UK’s most advanced pharmacy hubs

    The company highlighted Sarus Court’s scale and design efficiency in comparison with other major UK pharmacy infrastructure developments.

    As part of its statement, MedPal AI CEO Jason Drummond said:

    “Sarus Court is a major statement of intent for MedPal AI. It is our largest robotic pharmacy distribution facility to date, NHS-approved for the new location, and designed to give us the operational headroom to scale from approximately 2,000 prescription items per day today to more than 10,000 items per day when fully completed.

    “We have invested over £1 million in robotics, automation and our pharmacy technology stack to create a platform that we believe can become one of the most sophisticated and lowest-cost dispensing operations in the UK.

    “The size and capacity of Sarus Court place MedPal AI firmly among the most ambitious technology-led pharmacy operators in the UK. At 23,000 sq ft when fully completed, the facility is larger by footprint than Boots’ recently opened 20,000 sq ft Basingstoke dispensing hub, while its designed item capacity is significantly above the monthly item levels currently reported by leading individual Well and Boots pharmacy entries on PharmData.

    “This facility gives MedPal AI the scale, automation and resilience required to support the next phase of our growth across NHS dispensing, private prescriptions, AI-enabled patient engagement and direct-to-patient pharmacy fulfilment.”

    Strengthening a national digital health platform

    Sarus Court will operate alongside MedPal AI’s existing Swaffham facility and replaces its previous Runcorn distribution site. The phased commissioning approach ensures immediate operational output while enabling a smooth ramp-up to full capacity.

    The facility forms a core part of MedPal AI’s broader digital health ecosystem, which integrates AI-powered wellness tools, clinical services and automated pharmacy fulfilment. Through its MedPal Health OS platform, the company connects user health data from wearable devices and health applications into a unified system designed to support personalised care pathways and efficient medication delivery.

    Building future-ready healthcare infrastructure

    With NHS approval secured and advanced robotic systems now being commissioned, Sarus Court represents a significant expansion of MedPal AI’s operational footprint. The facility strengthens the company’s position in the evolving UK pharmacy landscape, where automation, scale and digital integration are increasingly central to service delivery.

    As commissioning continues, Sarus Court is expected to play a key role in supporting MedPal AI’s long-term growth strategy across NHS dispensing, private prescriptions and AI-enabled healthcare services.

    For more information visit https://medpal.co/

  • Topps Tiles maintains resilient sales as cost savings and digital growth support performance (TPT)

    Topps Tiles maintains resilient sales as cost savings and digital growth support performance (TPT)

    Market weakness weighs on third-quarter revenue

    Topps Tiles (LSE:TPT) reported third-quarter group revenue of £75.6 million, down 1.8% from the previous year as subdued consumer demand, CTD store closures and the closure of underperforming Topps Tiles locations affected sales.

    Excluding the impact of CTD, core revenue edged 0.6% higher, while like-for-like sales at the Topps Tiles brand remained unchanged. Although the company continued to outperform the declining UK home improvement market, trading was weaker than anticipated as customers shifted towards lower-priced products and periods of hot weather disrupted activity across construction sites.

    Cost-saving measures and online growth support margins

    The group said it continued to make progress on initiatives designed to improve efficiency and protect profitability, including optimising its store estate, introducing a more flexible labour model and consolidating head office operations.

    Digital sales continued to expand, with online revenue accounting for 23.3% of total sales during the quarter. The launch of a new trade-focused mobile app also supported professional customers, while newer hard surface categories such as acoustic panels and outdoor tiles delivered double-digit growth. Despite these positive developments, the company expects adjusted pre-tax profit for the year to be slightly above £6.5 million as broader economic challenges continue to affect demand.

    Cash generation offsets balance sheet concerns

    Topps Tiles’ investment outlook is supported by improving financial performance, strong cash generation and ongoing cost-saving initiatives, alongside a generally constructive earnings outlook.

    However, these strengths are balanced by relatively high balance sheet leverage and weaker technical indicators, including a negative MACD signal and a share price trading below key moving averages. The valuation also appears relatively demanding, although the company’s dividend yield continues to provide support for income-focused investors.

    More about Topps Tiles

    Topps Tiles is the UK’s largest specialist retailer of tiles and hard surface flooring products, supplying ceramic and porcelain tiles, flooring accessories and related materials to both retail and trade customers. The group operates its core Topps Tiles business alongside the recently acquired CTD brand and continues to expand its digital capabilities while serving the home improvement and commercial construction markets.