REG - Topps Tiles - Q4 Trading Update

Topps TilesAnnouncement

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RNS Number : 5122B  Topps Tiles PLC  01 October 2025

 

1 October 2025

Topps Tiles Plc

 

Q4 Trading Update

 

Record year for turnover; continued strategic progress

 

Topps Tiles Plc ("Topps Group", or the "Group"), the UK's leading tile
specialist, announces a trading update for the 52-week period ended 27
September 2025.

 

The Group's strong trading performance has continued throughout the second
half, resulting in another record year of turnover for the Group of
approximately £265 million of adjusted sales(1), up 6.8% year-on-year.
Topps Group has now achieved record years for sales in four out of the last
five years, demonstrating the Group's continued strategic progress,
market-leading brands and world class customer service.  Including CTD, total
Group sales(1) in the year were approximately £296 million, up 17.7%
year-on-year, making 2025 a key year for the Group as it progresses towards
its 'Mission 365' goal of increasing total Group sales to £365 million in the
medium term while achieving an adjusted profit before tax margin of between 8%
and 10%.

 

The improved sales performance has been widespread across the Group, with each
part of the business (Topps Tiles, Parkside, Online Pure Play and CTD)
reporting improved year-on-year performance in the second half of the year
compared to the first half, and like-for-like sales in Topps Tiles(2)
accelerating to 7.7% growth in the second half, up from 3.0% in the first
half, and 5.3% for the year as a whole.  As well as improving sales trends,
the Group expects to deliver higher adjusted gross margins(3) in the second
half than in the first half of the year.  Costs increased in the second half
of the year as a result of the increases in National Living Wage, National
Insurance Contributions and performance-related pay (relating to stronger
trading performance).  As a result, adjusted profit for the year is expected
to be in the range of market expectations(4).   The business expects to
finish the year in a net positive cash position.

 

The strong trading performance has been supported by continued strategic
progress, with particular progress in the year in the areas of modernising the
Topps Tiles trade digital experience, our increased business-to-business sales
focus, and supporting the continued growth of Pro Tiler Tools.  More
information will be given in the full year results concerning our progress
across all areas of the strategy.

 

In CTD, of the four sites required for disposal by the CMA, the Group was
pleased to conclude the disposal of two sites in September, with two more
expected to complete imminently.  Upon completion of these disposals the
CMA's involvement with the Company will formally conclude.  CTD remains
strategically important to the business, particularly expanding the Group's
activities with larger contractors, commercial partners and housebuilders and
we remain excited about the opportunities to grow further in these markets.

 

The Group was pleased to welcome Alex Jensen to Topps Group on 15 September as
CEO designate.  Alex will work alongside Rob Parker until the end of the
calendar year, to provide an orderly transition.

The process to recruit a permanent CFO is well under way and the Company
expects to make an announcement before the end of the calendar year.

 

Overall, the Group's improving trading momentum, strategic progress and strong
balance sheet leave it well positioned to continue to grow sales and profit
into 2026.

 

The Group will announce its preliminary results for the year ended 27
September 2025 on 2 December 2025.

 

Notes:

1 Group sales for FY25 are stated before year end accounting adjustments
including revenue recognition, loyalty scheme accounting and customer returns
provisions. In FY24 and FY25, Group adjusted sales exclude the impact of the
CTD business which was acquired on 19 August 2024.  The previous record year
for sales was FY23, with Group sales of £262.7 million.

2 Topps Tiles like-for-like sales is defined as online sales made through
Topps Tiles' digital channels, and sales from Topps Tiles stores that have
been trading for more than 52 weeks, compared to the same period the previous
year.

3 Adjusted gross margins excludes CTD operations in FY25.

4 Company compiled market expectations for adjusted profit before tax are in a
range of £8.3 million to £9.2 million for FY25.

 

 

For further information please contact:

 

 Topps Tiles Plc
 Rob Parker, CEO         0116 282 8000

 Citigate Dewe Rogerson  +44 (0) 20 7638 9571
 Angharad Couch          toppstiles@cdrconsultancy.com (mailto:toppstiles@cdrconsultancy.com)

 

Notes to Editors

 

Topps Tiles Plc is the UK's largest specialist supplier of tiles and
associated products, targeting the UK domestic, commercial and housebuilder
markets and serving homeowners, trade customers, contractors, architects and
designers from 297 nationwide Topps Tiles stores, a commercial showroom in
London, the CTD store estate and nine customer-facing websites:
www.toppstiles.co.uk (http://www.toppstiles.co.uk) , www.parkside.co.uk
(http://www.parkside.co.uk) , www.protilertools.co.uk
(http://www.protilertools.co.uk) , www.northantstools.co.uk
(http://www.northantstools.co.uk) , www.premiumtiletrim.co.uk
(http://www.premiumtiletrim.co.uk) , www.warmfloorstore.co.uk
(http://www.warmfloorstore.co.uk) www.flooringmaterials.co.uk
(http://www.flooringmaterials.co.uk) ,  www.tilewarehouse.co.uk
(http://www.tilewarehouse.co.uk) and www.ctdtiles.co.uk.

 

Since opening its first store in 1963, Topps has maintained a simple operating
philosophy ‐ inspiring customers with unrivalled product choice and
providing exceptional levels of customer service.  For further information on
the Group, please visit www.toppsgroup.com (http://www.toppsgroup.com)

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