Topps Tiles sees annual profits leap 58%
Leicestershire flooring and tile chain Topps Tiles has weathered a difficult start to the financial year and recorded profits of £12.5 million.
The Enderby-based retailer's pre-tax profits were up 58 per cent from £7.9 million the previous year.
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Topps Tiles has recorded profits of £12.5 million for 2012
While like-for-like sales were down 0.7 per during 2012, in the second half of the year they increased by 3.5 per cent. Group revenue increased from £177.7 million in the year to September, up from £175.5 million the previous year.
The company, which opened five new stores this year, said its success was partly down to customers increasingly doing DIY on their homes.
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Comments
by Rachel_Leics
Thursday, November 29 2012, 11:15AM
“Does that mean more jobs then? x”
by Happy1900
Wednesday, November 28 2012, 9:17PM
“I do not understand that post Oh_come_on, please explain who you are agreeing with? The article is not in much depth, therefore making it hard to know any facts.”
by Oh_come_on
Wednesday, November 28 2012, 1:45PM
“by City_C10
Tuesday, November 27 2012, 7:12PM
."@ Oh_come_on
So you agree with me, but do not understand why?
"I have no idea what the comment regarding new builds and them opening new shops is all about?"
Which comment by whom?"
.
No I think if you read the comments on this story you will see the comment quoted was from sunshineleic, therefore it is sunshineleic I agree with. I am also suprised you didn't recognise your own comment:
by City_C10
Tuesday, November 27 2012, 4:27PM
."@ sunshineleic
Please read:
"The company, which opened five new stores this year..." This does not state new builds/building. They might have taken over other existing building for example. However, this is not clear and is down to interpretation."
.
It's great news for Topps Tiles but not so great if for tradesmen if it is down to DIY. then again maybe more tradies are soucing cheaper products from Topps as well?”
by City_C10
Wednesday, November 28 2012, 8:55AM
“@ LikeItaLot:
I feel the least of your worries if your home is flooded badly is the replacement of the floor! The whole house would need professionals in; electric, structural (etc) damage is more than a quick DIY job! This is why it is important to have home insurance!”
by LikeItaLot
Tuesday, November 27 2012, 9:46PM
“"Massive coincidence that there's major flooding in Leics at the moment, a time where people will no doubt need to be replacing their flooring"
For some people cynicism and jaundiced perspectives must cloud a happier view of the world.”
by City_C10
Tuesday, November 27 2012, 7:12PM
“@ Oh_come_on
So you agree with me, but do not understand why?
"I have no idea what the comment regarding new builds and them opening new shops is all about?"
Which comment by whom?”
by Oh_come_on
Tuesday, November 27 2012, 6:45PM
“"@City_C10 Which also means that local builders, who, may I point out are also businesses and are much more likely to spend their profits in the local area, are losing out to the big chain companies who are more likely to source cheaper materials from abroad. Fantastic. Doh."
I agree, while people are taking these jobs on for themselves they are not paying tradesmen to do them therefore while tops tiles profits are going up local traders profits are going down. It is an unfortunate result of the current economic climate. However there is always the hope that people are still not very good at diy so the trades may be called in to fix their mistakes.
I have no idea what the comment regarding new builds and them opening new shops is all about?”
by City_C10
Tuesday, November 27 2012, 4:29PM
“@sunshineleic
Please read:
"The company, which opened five new stores this year..."
This does not state new builds/building. They might have taken over other existing building for example. However, this is not clear and is down to interpretation.”
by City_C10
Tuesday, November 27 2012, 4:27PM
“@ sunshineleic
Please read:
"The company, which opened five new stores this year..." This does not state new builds/building. They might have taken over other existing building for example. However, this is not clear and is down to interpretation.”
by I_Griffin
Tuesday, November 27 2012, 1:14PM
“sunshineleic
Thanks for your comments. But this is not from a press release, but a statement to the London Stock Exchange which was issued this morning. You'll find many national media organisations have also picked up on the story, with most providing a similar amount of detail.
See tomorrow's Leicester Mercury Business Daily section for full details and analysis of the results.”