Market Updates
Europe Movers: Topps Tiles
Inga Muller
02 Jul, 2025
Frankfurt
Topps Tiles Plc. advanced 11.5% to 38.01 pence after the UK-based tile and related product retailer released its third-quarter trading update for the 39-week period ending on June 28.
Group adjusted sales were up 6.1% from a year ago and 10.1% compared to the first half of the year.
Same-store sales in the Topps Tiles brand increased 7.3% in the third quarter and are up 4.4% on a year-to-date basis.
The company said its active trade customer base edged up 12% to 150,000 from a year ago, as online sales accelerated from 19.8% of adjusted sales in the first half to 21.9% of adjusted sales in the third quarter.
“Adjusted gross margins continue to improve, and we expect group adjusted gross margin in the second half to be slightly higher than in the first half of the year,” the company said in a release to investors.
The company said costs increased to £4 million on an annualized basis from April 2025 as a result of the recent changes to national insurance rates and thresholds, together with the increase in the national living wage.
The company expects operating costs in the second half of the year to grow at a lower rate than gross profits.
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