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Topps Tiles - Special dividend of 54p a share

August 2006

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.

  • Epic Code:
  • TPT
  • Price:
  • 234p
Topps Tiles’ strong cash generation has emboldened it to propose a special dividend of 54p per share to shareholders which will be paid on 31 July in conjunction with a three for four share consolidation. The cash return will leave Topps with net debt of around £100m which will still leave prospective operating profit covering debt interest by a comfortable six times. Topps has also announced a trading update for the third quarter which noted an improvement to gross margins, while like for like sales were flat, which represents an improvement from the minus 4% last time, albeit against easier comparatives. The shares have responded well and are now 26% ahead of our main recommenda ...

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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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