Topps Tiles Plc (TPT.L) announced its annual financial results for the 52 weeks ended 26 September 2009.
Profit for the year attributable to equity shareholders of parent was £1.72 million, compared to £16.35 million a year ago. Earnings per share were 1.00 pence, down from last year's 9.55 pence.
Profit before taxation dropped to £4.9 million from £27.72 million in the previous year.
Adjusted profit was £11.33 million, lower than £19.08 million last year. Adjusted basic earnings per share fell to 6.62 pence from 11.16 pence in 2008.
Group revenue for the year was £186.06 million, down from £208.08 million in the prior year.
In addition, Topps Tiles announced its intention to place up to 17.11 million new ordinary shares of 3 1/3 pence each in the capital of the Company with existing and new institutional shareholders. The Placing Shares represent up to approximately 10% of Topps Tiles' existing issued ordinary share capital.
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