Secondary Recommendation

Topps Tiles - Underlying sales turn sharply positive

January 2011

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.

In spite of the slow housing market and cautious consumers, final results in the year to 2 October were resilient with adjusted pretax profit of Â£21.1m, down from Â£22.8m, mainly reflecting a 0.5% fall in gross margin to 58.7%, while eps fell from 7.3p to 6.2p. It could have been worse but fleet footed management sold the habitually loss-making Dutch operation on 18 December. Encouragingly, net debt fell from Â£71.2m to Â£49.1m, while overall Topps has cash of almost Â£42m and total borrowings of Â£91m. Interest cover was 5.1 times.Meanwhile, like-for-like revenue, which had been 1.7% higher, has further improved to plus 3.2% in the first seven weeks of this year, with its market share nudging up 2% to 25%.Topps invested Â ...

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Topps Tiles - Mortgage approvals rise (January 2013)

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Topps Tiles - Underlying sales turn sharply positive

January 2011

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