// Topps Tiles sales rise 9.5% to £130.5m in the 26 weeks to April 1
// The retailer said it is the UK’s “clear market leader” in Home & DIY
Topps Tiles has described itself as the UK’s “clear market leader” in home and DIY, after a record performance during the first half of its financial year.
The retailer recorded sales of £130.5m in the 26-week period ending April 1, 2023, a 9.5% increase on revenues for the previous year.
Topps attributed £9m of the growth to the acquisition of Pro Tiler Tools and launch of Tile Warehouse in 2022.
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Like-for-like sales rose 3.5% in the second quarter, while sales were up 4.3% in the first half.
The retailer said that gross margin percentages were also expected to increase in the second half of the year, as supply chain pressures eased and cost price rises were reduced.
Online sales reached £10.1m, up from just £1.1m for the same period the previous year.
Topps Tiles said it remains confident in the outlook for the rest of the year, but expects profitability to be weighted towards the second half of the financial year.
Topps Tiles CEO Rob Parker said: “Our performance across the first half has been good, with a record period for group revenues, supported by like-for-like sales growth in Topps Tiles of 4.3% and an excellent post-acquisition performance from Pro Tiler Tools.
“The economic outlook remains uncertain but early signs of easing supply chain pressures, allied to the group’s strong balance sheet, world class customer service, specialist expertise and growth strategy give us confidence in our ability to drive value for all stakeholders over the medium term.”
