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BRIEF-Topps Tiles annual profit rises 7.8 pct on sales growth
November 29, 2016 / 7:10 AM / in a year

BRIEF-Topps Tiles annual profit rises 7.8 pct on sales growth

Nov 29 (Reuters) - Topps Tiles Plc

* Fy record sales of £215.0 million (2015: £212.2 million). Like-For-Like sales growth of 4.2% (2015: +5.4%)

* Gross margin increased to 61.9% (2015: 61.2%) reflecting further sourcing gains and our focus on a differentiated product offer

* Adjusted profit before tax 2 of £22.0 million, up by 7.8% or 10.0% on a 52 week comparable basis

* Increased final dividend of 2.5 pence per share (2015: 2.25 pence per share), making a total for year of 3.5 pence per share (2015: 3.00 pence per share), an increase of 16.7%

* In first eight weeks of new financial period, group revenues, stated on a like-for-like basis, increased by 0.8% (2015: 3.3%)

* Proven strategy, well-invested business and market leading position, leave topps well-placed for further progress in year ahead.” Source text for Eikon: Further company coverage: (Reporting By UK Bureau)

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