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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Topps Tiles - Prospective dividend yield 8.7%

March 2008

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:
  • 141p
The degree of investor caution towards retailers is such that even aquality business like Topps Tiles, the UK’s largest specialist tileseller, has been significantly de-rated. Nevertheless its currenttrading is by no means disastrous with total revenues increasing 6.9%in the first 13 weeks, with like-for-like sales up 0.8%. These figuresalso come against tough comparatives of 4.7% underlying sales growthlast time. In view of the tougher conditions, Topps has reduced itsstore opening program to a minimum of 20 a year and after closures andrelocations, its estate stands at 322 (302 UK, 20 international). Numis has cut its price target from 250p to 200p, which equates to aprospective PE of just under 12 times (eps: 16.8p), while th ...

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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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