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Topps Tiles expects interim revenue to increase

Sharecast

LONDON (ShareCast) - Tile and wood flooring group Topps Tiles (LSE: TPT.L - news) expects half-year revenue to increase 6.4% to £104m. In a statement released on Wednesday, the London-listed group said like-for-like revenues for the period are estimated to increase 5.2%.

"These trading results compare to a particularly strong period in the prior year and reflect a two year like-for-like growth in excess of 15%," said group chief executive Matthew Williams.

He added that the group was well positioned to continue to grow and was accelerating expansion plans.

Williams said the company expected the UK General Election on 7 May to add some short-term uncertainty to the market, but he added that "rising levels of disposable income should support increased consumer spending on home improvements." Topps shares were down 6.50% to 115.00p at 08:42 on Wednesday.