UK's Topps Tiles falls after flagging weak start to fiscal year

Topps Tiles

02/12/2025 08:20

** Shares of British tile retailer Topps Tiles TPT.L down 7.4% at 40p

** TPT among weakest performers across London stocks

** Co says trading moderated in first nine weeks of its financial year due to weak consumer confidence

** Peel Hunt analysts say CTD is seeing like for like growth, but has not reached run rate break even yet; cut FY26 PBT by 0.8 mln pounds to 11.9 mln pounds ($15.72 mln)

** CTD's tiles business was bought by Topps Tiles recently

** Co reports adj pre-tax profit of 9.2 mln pounds for year ended Sept 27 vs 6.3 mln pounds year ago

** Including session's moves, stock up ~13.68% YTD

($1 = 0.7568 pounds)

 (Reporting by Ankita Bora in Bengaluru)

 ((Ankita.Bora@thomsonreuters.com))