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Topps Tiles - Liberum price target: 100p

August 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Despite June being the hottest for 40 years, Topps Tiles said trading continues to be robust with Q3 like-for-like sales up by 4.4% against tough comparables last year when it had acquired ProTiler (March ‘22). Year to date sales growth stands at 7.6%. The main Topps (UK) brand grew sales 2.5% in Q3 and encouragingly gross margin improved over Q2, helped by lower cost of goods and shipping. The online offer through ProTiler Tools (its trade-focused consumables and tools business) and Tile Warehouse remains “excellent” with growth of over 60% year-on-year. Following a poor H1, management have restructured its Commercial business, eliminating £1.4m costs. Liberum has left forecasts unchanged with eps of 4p and then 4.6p for F ...

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Sanderson

Moonpig

Topps Tiles - Missed out on rally; ex-cash PE 8.6 and 7.3 (February 2024)

Topps Tiles (December 2023)

Topps Tiles (February 2023)

Topps Tiles (November 2022)

Topps Tiles (July 2022)

Topps Tiles (April 2022)

Topps Tiles (February 2022)

Topps Tiles - Eps forecasts upgraded from 3.2p to 6p over the year (January 2022)

Topps Tiles - Trading slightly ahead of expectations (November 2021)

Topps Tiles - Price target increased from 75p to 100p (July 2021)

Topps Tiles - Blow-out online trading, plus focus on value underpin 1 in 5 goal (March 2021)

Topps Tiles - New target to grow market share from 17% to 20% by FY 25 (February 2021)

Topps Tiles - Weaker Q4 trading (November 2016)

Topps Tiles - Dividend could rise 50% by FY'18 (September 2016)

Topps Tiles - Strong outlook (July 2016)

Topps Tiles - Q2 like-for-like sales +4.9% (May 2016)

Topps Tiles (February 2016)

Topps Tiles - Two year LFL sales up c.14% (November 2015)

Topps Tiles (August 2015)

Topps Tiles (July 2015)

Topps Tiles - Tile retailer benefits from rising disposable income (June 2015)

Topps Tiles - Strong sales growth (February 2015)

Topps Tiles - Like-for-like sales up 6.3% (August 2014)

Topps Tiles (July 2014)

Topps Tiles (February 2014)

Topps Tiles - Shares hit new high of 132p (January 2014)

Topps Tiles - Top-slice some profits (November 2013)

Topps Tiles - Rising house market boosts shares (August 2013)

Topps Tiles (July 2013)

Topps Tiles (February 2013)

Topps Tiles - Mortgage approvals rise (January 2013)

Topps Tiles - Specialist tile retailer sees pick up in sales (July 2012)

Topps Tiles (May 2011)

Topps Tiles (February 2011)

Topps Tiles - Underlying sales turn sharply positive (January 2011)

Topps Tiles - Signs of strong trading recovery (November 2010)

Topps Tiles (August 2010)

Topps Tiles (July 2010)

Topps Tiles (May 2010)

Topps Tiles (February 2010)

Topps Tiles - Â£15m placing strengthens balance sheet (January 2010)

Topps Tiles - Specialist tile firm offers excellent recovery potential (December 2009)

Topps Tiles (May 2009)

Topps Tiles - Shares rally after co-founder acquires 2m shares at 15p (March 2009)

Topps Tiles - Prospective dividend yield 8.7% (March 2008)

Topps Tiles - Panmure Gordonâ€™s price target is 345p (July 2007)

Topps Tiles (February 2007)

Topps Tiles - Special dividend of 54p a share (August 2006)

Topps Tiles - Efficiency gains offset sales fall (July 2006)

Topps Tiles (March 2006)

Topps Tiles - Reasonable results (January 2006)

Topps Tiles - Fast growing tiles specialist still going strong (July 2005)

Topps Tiles - Underlying sales growth still over 15% (February 2005)

Topps Tiles - Gain reaches 408% (January 2005)

Topps Tiles - Earnings forecast upgraded to 12p (November 2004)

Topps Tiles - Good opportunity to take huge gains (August 2004)

Topps Tiles - Wonder stock does 5:1 share split (July 2004)

Topps Tiles - 160p rise in just two months (April 2004)

Topps Tiles - Shares break into new highs (February 2004)

Topps Tiles - Simple formula working wonders (January 2004)

Topps Tiles - Underlying sales ahead 15% (November 2003)

Topps Tiles - Like-for-like sales 10.5% ahead (June 2003)

Topps Tiles - A Warren Buffett "inevitable"? (April 2003)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Topps Tiles - Liberum price target: 100p

August 2023

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