TOPPS Tiles said it faced another quarter of “subdued” trading – as the sluggish house market and low consumer confidence continues to hit demand.
The tiles and floorcoverings firm, which has a site at Leeds Road, Huddersfield, and 313 stores UK-wide, said like-for-like sales fell by 1.9% in the 13 weeks to July 2 against a 1.2% decline a year earlier.
In June, Topps reported adjusted profits of £7.2m for the 26 weeks to April 2, against £7.8m for the same 27-week period a year earlier.
Analyst Mark Photiades of Singer Capital Markets is predicting pre-tax profits for the year to September at £500,000 to £1m lower than the £16.5m previously forecast.
