Cheshire, England, May 24--New store openings have continued to drive sales at Topps Tiles, despite a fall in the like-for-like growth rate over recent weeks, according to the Retail Bulletin.
In the 26 weeks to April 2, the UK's leading tile and wood flooring specialist, group turnover increased by 13.4 per cent to £87.48m, with like-for-like turnover up 8.5 per cent. Pre-tax profits increased by 40.1 per cent to £21.75m.
Topps opened 12 new stores across the half, as well as carrying out five major store refits, and is on target to open 24 across the financial year as a whole.
The company said sales growth has continued in the first six weeks of the second half, although the rate of growth has reduced. Overall sales up by 10.2 per cent and like-for-likes up 1.8 per cent.
Executive chairman Barry Bester said: "Overall we have again made excellent progress in the half year with increased profits and further margin improvements.
"Our store roll-out continues apace and whilst the trading environment has become more demanding in recent months we believe that our strong competitive position coupled with the strong underlying drivers of the UK DIY market will enable the business to continue to deliver benefits to customers and value to shareholders."
