Topps Tiles PLC
F:929
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Topps Tiles PLC
F:929
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UK |
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A
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Topps Tiles PLC
Topps Tiles PLC is a UK specialist retailer that sells wall and floor tiles, along with related products such as adhesives, trims, grouts, waterproofing items, and other fitting accessories. It also sells some bathroom and tiling tools, so customers can buy much of what they need for a full tiling job in one place. Its main customers are homeowners doing renovation projects, professional tradespeople such as tilers and builders, and small contractors who need a reliable source of tile products and supplies. The company makes money mainly by selling these goods through its stores and trade-focused channels, with the value coming from product sales rather than long-term contracts or large project work. What sets Topps Tiles apart is that it is a specialist in a category that many general DIY chains treat as a side line. That focus gives it deeper product knowledge, a wider tile range, and a stronger position with customers who want advice, matching products, and consistent supply for bathroom, kitchen, and flooring projects.
Topps Tiles PLC is a UK specialist retailer that sells wall and floor tiles, along with related products such as adhesives, trims, grouts, waterproofing items, and other fitting accessories. It also sells some bathroom and tiling tools, so customers can buy much of what they need for a full tiling job in one place.
Its main customers are homeowners doing renovation projects, professional tradespeople such as tilers and builders, and small contractors who need a reliable source of tile products and supplies. The company makes money mainly by selling these goods through its stores and trade-focused channels, with the value coming from product sales rather than long-term contracts or large project work.
What sets Topps Tiles apart is that it is a specialist in a category that many general DIY chains treat as a side line. That focus gives it deeper product knowledge, a wider tile range, and a stronger position with customers who want advice, matching products, and consistent supply for bathroom, kitchen, and flooring projects.
Revenue: Pro forma revenue was broadly flat at GBP 142.6 million, but still outperformed a market that declined 2.5%.
Margins: Gross margin improved strongly, lifting pro forma gross profit by 2.9% and adjusted operating profit by 17.3%.
PBT: Profit before tax was GBP 2.2 million and flat year on year on a pro forma basis, as higher interest costs offset the operating improvement.
Cost actions: Management said three self-help programs are in place, including 23 store closures, a new productivity model and head office simplification, with GBP 6 million of annual benefits expected.
Digital and trade: Online revenue rose to 21% of mix, trade demand remained strong, and the new trader app plus CRM tools are expected to support second-half growth.
Acquisitions: CTD losses more than halved to GBP 400,000 and Fired Earth was already profitable after four months, both seen as early signs of successful integration.
Outlook: The company expects modest full-year profit growth, with a stronger second half and gross margins expected to stay broadly in line with the first half.