UK's Topps Tiles first-quarter revenue rises on strong demand (updated)
07/01/2026 07:53
Adds details from paragraph 2 Jan 7 (Reuters) - British tile retailer Topps Tiles TPT.L reported a 3.7% rise in first-quarter revenue, excluding CTD - a tiles business it acquired in 2024 - on Wednesday, helped by resilient demand from its trade customer base of builders and contractors. The country's largest tile retailer said it was outperforming the market, which has slowed in recent months as customers reined in spending on big-ticket items such as home purchases and renovations, thanks to its digital push. "We are confident of delivering another year of progress both strategically and financially," said CEO Alex Jensen, who took the helm last month. Topps Tiles said strong sales growth at CTD in the first quarter supported its plan to deliver a profit in that business this financial year. Including CTD, group sales rose 1.6% in the quarter, with the CTD operation now smaller than it was in the prior year. (Reporting by Nithyashree R B and Yadarisa Shabong in Bengaluru; Editing by Sherry Jacob-Phillips, Harikrishnan Nair and Rashmi Aich) ((NithyashreeRB@thomsonreuters.com;))