Topps Tiles Sees Rising Sales, Plans Growth

London, England, Nov. 30, 2010 -- Tile and wood flooring firm Topps Tiles said comparable sales in the first seven weeks of its new financial year were up 3.2% on the previous year.

The improved sales represent a turnaround after a decline in comparable revenues over the summer as consumers delayed home improvements.

Topps Tiles recorded pre-tax profits before exceptional items of 12.4 million pounds in the year to October 2, up from 9.9 million pounds the previous year.

Chairman Barry Bester said: "The business is performing in line with expectations and current trading figures also offer cause for confidence."

Topps Tiles is rolling out an expansion plan to increase the number of its stores to potentially more than 400 in the UK. The company said it plans to open 10 new stores in the coming year, after opening 12 stores in the last 12 months.