UK's Topps Tiles interim adjusted revenue rises on trade, digital growth

Topps Tiles

19/05/2026 07:12

Overview

UK tile distributor's interim adjusted revenue rose 11.6% yr/yr, driven by CTD inclusion

Adjusted profit before tax fell 31.3% yr/yr; flat on proforma basis with CTD included

Company says cost-saving initiatives and digital growth underpin profit delivery in H2

Outlook

Topps Tiles expects profit upside in H2 2026 relative to H1 2026

Company anticipates modest year-on-year profit growth in line with market expectations

Topps Tiles says macro and geopolitical environment remains challenging

Result Drivers

COST INITIATIVES - Company said three major cost-saving programmes, including store closures and productivity improvements, are underpinning profit delivery and offsetting inflation

TRADE AND DIGITAL GROWTH - Trade sales (ex-CTD) rose 4.1% and online revenue increased to c.21% of group total, driven by digital platform improvements and trade customer initiatives

CTD INTEGRATION - Losses at CTD narrowed by £0.6 mln yr/yr and the business is expected to be profitable in H2, supporting group profit outlook

Company press release: ID:nRSS8065Ea

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 142.60 mln
H1 Adjusted Pretax Profit
GBP 2.20 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the home furnishings retailers peer group is "buy"

Wall Street's median 12-month price target for Topps Tiles PLC is GBp50.00, about 47.1% above its May 18 closing price of GBp34.00

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)