London, England, January 10, 2007--Topps Tiles said total sales in the first 14 weeks of trading in the new financial year have risen 12.6 pct, with like for like sales up 4.7 pct, "despite a persistently tough retail market", according to AFX.
This compares to total sales up 0.7 pct and like for like down 5 pct for the same period of 2006.
In a trading update ahead of its AGM today, the tile and flooring firm said that the UK, where it operates 278 stores, showed overall revenue growth of 11.8 pct with like-for-like revenue up 4.3 pct, compared to a rise of 0.1 pct and fall of 5.5 pct respectively in 2006.
In Holland, where it has 17 stores, there was total sales growth of 41.5 pct with like-for-like revenue up 19.6 pct, compared to rises of 19.1 pct and 8.3 pct in 2006.
Topps added that it is confident that its business model will continue to deliver sustainable growth.
The firm said it has opened seven of its planned net 30 new stores for the year in the UK, with a strong pipeline of sites currently in development.
