// Topps Tiles has delivered report annual revenues for a second 12 months

// The retailer mentioned adjusted earnings for the 12 months are anticipated to be in direction of the higher finish of market expectations

Topps Tiles has posted report annual revenues for the second 12 months in a row as the house enchancment growth continues post-pandemic.

The specialist DIY and residential enchancment retailer now expects earnings to be in direction of the higher finish of market expectations after group gross sales within the 52-week interval reached £247.3m, a second consecutive report 12 months of turnover, with year-on-year gross sales development of 10.6%.

The enterprise mentioned it continued to carry out nicely in opposition to a “very sturdy comparative interval final 12 months”.

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Like-for-like gross sales slipped 1.2% decrease than final 12 months within the last quarter, however like-for-like gross sales development for the total 12 months was nonetheless 9.4%.

The enterprise added that common weekly gross sales per retailer this 12 months had been 25% greater than within the pre-pandemic interval in 2019, which it mentioned was attributable to it shuttering underperforming shops.

It has additionally seen its commerce buyer base develop by a fifth from 2015 to 2022, describing them because the “essential hyperlink” to home-owner clients.

Chief govt Rob Parker mentioned: “We’re delighted to have delivered a second successive 12 months of report gross sales for the group, with earnings anticipated to be in direction of the higher finish of market expectations. All components of the group contributed to this efficiency and are making good strategic progress as we develop and diversify the enterprise.

“Our market-leading omnichannel retail enterprise, Topps Tiles, has carried out nicely in opposition to sturdy prior 12 months comparatives and we’re persevering with to develop our base of loyal commerce clients,”

“Our growth into the industrial market via our Parkside model is now producing in extra of £10 million of gross sales, and we count on it to be worthwhile transferring forwards.  This 12 months we’ve additional expanded our actions into on-line pure play via the acquisition of Professional Tiler Instruments and the creation of Tile Warehouse – each of which current additional alternatives for worthwhile development.”

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