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Britain's Topps Tiles sees 'modest' profit after strong recent trading

Published 13/08/2020, 07:55
© Reuters.

LONDON (Reuters) - British tile retailer Topps Tiles (L:TPT) said on Thursday trading had been strong in recent weeks and forecast "modest" pretax profit for its 2019-20 year.

It said like-for-like retail revenue grew 15.5% year-on-year in the first six weeks of its final quarter, with do-it-yourself (DIY) activity increasing sharply and trade customer business recovering steadily from April lows.

"Our retail performance over the last six weeks, combined with an order bay which is significantly ahead of the prior year, means that the board now expects that the group will generate a modest level of adjusted profit before tax for the 52 weeks ended 26 September," it said.

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