UK's Topps Tiles falls; flags $5.2 million annual rise in employee expenses

Topps Tiles

02/04/2025 09:10

** Shares of Topps Tiles TPT.L fall as much as 5.3% to 32.2p, stock among top pct loser on FTSE Small Cap .FTSC index

** The UK tile retailer says it expects its annual cost base to rise by about 4 million pounds ($5.2 million) from April due to national living wage and insurance expenses

** The potential rise in these expenses accounts for nearly two-third of its profits in 2024 fiscal year

** HY group sales, excluding CTD assets, up 4% to 127.7 million pounds

** Currently stock at session low, pushing YTD losses to ~15%

    ($1 = 0.7745 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru)

((abyjose.koilparambil@thomsonreuters.com))