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Topps Tiles - Weaker Q4 trading

November 2016

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 its pre-close update covering the year ended 1 October, tile specialist Topps announced that revenues are expected to be around £215m vs £212.2m previous year, with like-for-like revenues rising c. 4.2% against strong comparatives (2015: +5.4%). However, the latest quarter ended 1 October showed them slowing to +1.4%, albeit distorted by a move to exit low margin wood flooring, which reduced Q4 sales by 1.5%. Going forward the latter will have less impact as new ranges build.Topps has said adjusted pretax profit forecasts will be in line with expectations but broker Peel Hunt has downgraded its pretax profit forecasts for FY16 and FY17 by 3% and 5% respectively to £22m and £23.5m for eps of 9p and 9.7p. < ...

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

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

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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.

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Topps Tiles - Weaker Q4 trading

November 2016

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