The UK's largest tile specialist Topps Tiles reassured investors of its turnaround progress as it posted a 2.1% increase in third quarter like-for-like revenues compared to a 1.9% decline in the same period a year earlier.
The tiles and flooring specialist said results for the third quarter are in line with management's expectations and the group remains confident of meeting market expectations for the full year.
The current range of analyst forecasts for adjusted pre-tax profit for the year ended 30 September 2012 is £11.5m to £14.0m, with a consensus of £13.0m.
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Topps Tiles said it opened three new stores and are currently trading from a total of 322 UK stores. It continues to target a total of 325 stores for the year-end.
The group said there have been no changes in the financial position of the group since its interim report for the half year ended 30 March 2012.
CJ
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