// Topps Tiles revenue rose over 8% to almost £250m in the year to 1 October
// The retailer said it expanded its social media presence by launching on TikTok and has started selling on the Very marketplace
Topps Tiles has posted second year of record sales as it strives to win new customers through marketplaces and Tik Tok.
The tiling specialist has started selling on Very.co.uk, its first foray into marketplaces, to try to boost digital sales.
It said Very has a “complementary” customer group to its own.
Topps has also expanded its social media presence by launching on TikTok as it seeks to widen its appeal.
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Topps Tiles posted increased full-year profits as it achieved its second consecutive year of record sales.
It said profits edged up due to “significant” market share gains.
Sales rose over 8% to almost £250 million in the year to 1 October.
Adjusted profit before tax rose 4% to almost £15.6 million but before adjustments profits fell by a fifth to just under £11 million.
A recovery in demand helped the retailer cope with cost inflation.
“Wider cost pressures impacted our overheads including our own gas bill rising substantially,” Topps Tiles said.
“Our response across the year has been to increase the prices of tiles to pass on this inflation to our customers on a pound-for-pound basis, which has protected gross profits but impacted the gross margin percentage.”
Chief executive Rob Parker said: “We are pleased to have delivered a year of strong strategic progress, with record sales for a second year running and excellent delivery against our ‘1 in 5 by 2025’ market share goal.
“Within our Topps Tiles brand, where the majority of sales are being made to professional tradespeople, our focus on fewer more profitable stores and category extensions has driven sales per store up 25% since 2019.
“Parkside, our commercial brand, has delivered a record year of sales and now moved into profit.”
Topps also said the war in Ukraine “impacted the tile industry”, with the country an “ important source of clay for tile manufacturers based in European markets,” although it was able to manage the situation via “strong supplier relationships”.
Trading in the early part of its new financial year was “robust”, although it said it was “mindful of the macroeconomic headwinds which will impact both UK consumers and businesses in the year ahead”.
