Market Updates
Europe Movers: Stolt Nielsen, Topps Tiles
Inga Muller
03 Apr, 2025
Frankfurt
Topps Tiles Plc. dropped 6.8% to 31.70 pence after the UK-based tile retailer issued a fiscal first-half update.
Sales in the first half were £127.7 million, 4% higher than £122.6 million in the previous year.
“While trading through January was slower, volumes began to build progressively thereafter, with this improving trend culminating in a strong performance in March, when the group's underlying sales, excluding CTD, increased by a high single-digit percentage compared to the previous year,” the company said in a release to investors.
Same-store sales within the Topps Tiles brand increased an annual 3.7% in the second quarter and 3% higher in the first half overall.
“While homeowner sales remain subdued, trade sales within Topps Tiles were strong, and progress with our digital initiatives continued at pace,” the company added in the statement.
Total trade sales in the brand increased 12% annually in the first half, with the number of active traders at the end of the period rising 11% to 146,000.
Digital channel sales rose 15% in the first half, and online trade traffic was up approximately fourfold.
Topps Tiles will announce half-year results on May 20.
Stolt Nielsen Ltd. traded flat at €21.65 after the bulk liquids storage service provider reported results for 2024.
Operating revenue edged up to $2.89 billion from $2.82 billion, net profit edged up to $394.76 million from $296.65 million, and diluted earnings per share rose to $7.38 from $5.54 a year ago.
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