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

February 2021

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:
  • 57.5p
I’ve just completed an online meeting with newish finance director Stephen Hopson (ex Molson Coors) and am now even more excited by the story developing at Topps. The company put out a blowout Q1 ’21 update with retail like-for-like sales increasing 19.9% in the 13 weeks ended 26 December (Q1 ’20 decreased 5.4%) with good growth across its main customer groups, professional fitters and homeowners. Online sales have tripled since lock-down started and now represent 10% sales. Net cash rose to £28.5m, although there were one-off boosts such as VAT deferrals (£6m), a 53rd week (£7m) and bumper Q4 ’20 (£4m). An un-used £39m revolving credit facility leaves it with very comfortable headroom. Topps is still allowed to have customers in i ...

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