logo-loader
viewTopps Tiles PLC

Topps Tiles defies retail doom and gloom

Shares in Topps Tiles rose 6% this morning after the Company defied negative press comment about the outlook for retail stocks over the Christmas period. Shares in Topps Tiles have already fallen over 50% in the past 12 months as consumer confidence and spending has cooled dramatically in the face of tighter lending criteria for consumers, which has subsequently meant that retail, financial and property stocks have moved out of favour with equity investors.

Topps Tiles, in its Annual General Meeting statement defied the negative outlook, stating that trading in the first 13 weeks of its new financial year in the UK and Holland showed total revenues up 8.4% and like for like revenues up 1.1%. The Company also confirmed that its balance sheet 'remained stable' and that the outlook, while more challenging, still showed an "underlying growth trend in the retail tile market."

no_picture_pai.jpg
Shares in Topps Tiles rose 6% this morning after the Company defied negative press comment about the outlook for retail stocks over the Christmas period. Shares in Topps Tiles have already fallen over 50% in the past 12 months as consumer confidence and spending has cooled dramatically in the face of tighter lending criteria for consumers, which has subsequently meant that retail, financial and property stocks have moved out of favour with equity investors.

Topps Tiles, in its Annual General Meeting statement defied the negative outlook, stating that trading in the first 13 weeks of its new financial year in the UK and Holland showed total revenues up 8.4% and like for like revenues up 1.1%. The Company also confirmed that its balance sheet 'remained stable' and that the outlook, while more challenging, still showed an "underlying growth trend in the retail tile market."

Quick facts: Topps Tiles PLC

Price: 38 GBX

LSE:TPT
Market: LSE
Market Cap: £74.65 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Fax Capital CEO talks investment and aligning with the right...

Fax Capital (TSE: FXC-) CEO Blair Driscoll joined Steve Darling from Proactive Vancouver to discuss the investment holding company that intends to invest in approximately 10 to 15 high-quality small-cap public and private businesses located primarily in Canada. Driscoll tells Proactive why...

8 hours, 46 minutes ago

2 min read