Topps Tiles has reported on trading in the 26 weeks to 30 March.
- Sales dropped by -5.9% year-on-year to £122.6 million.
- In the 13 weeks to 30 March, LFL sales were down by -11.3% year-on-year.
- Footfall was down due to reduced demand in the domestic repair, maintenance and improvement (RMI) sector, especially for high spend projects.
- Trading in online businesses Pro Tiler and Tile Warehouse remained strong with year-on-year sales growth of 38.3% over the first half.
- The group owns 60% of Pro Tiler and will soon complete the acquisition of the remaining 40%.
Topps Tiles: “With its market leading brands, specialist expertise and world-class service, the group is well positioned to benefit from a cyclical recovery in the RMI market. The business remains in a strong financial position, with a robust balance sheet, and is focused on maximising market opportunities and emerging in a stronger competitive position as the market improves.”
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