Topps Tiles Plc (TPT.L) Wednesday said in its trading update for the third quarter ended June 27 that group revenue, including CTD Tiles Ltd, for the three months fell 1.8 percent from last year. Looking ahead, the company now expects adjusted profit before tax to be above 6.5 million pounds for the year.
On the LSE, TPT.L is down 7.8 percent on Wednesday's trading at 33.00 pence.
The UK-based specialist tile retailer said that group revenue, including CTD, was 75.6 million pounds in the third quarter, impacted by challenging market conditions, the effect of store closures in CTD during the previous year, and the earlier announced closure of underperforming Topps Tiles stores.
Excluding CTD, Group revenue increased 0.6 percent year-on-year to 69.4 million pounds. Topps Tiles' like-for-like revenue remained flat versus the prior year, with trading conditions weakening during the second half of the quarter compared to the first half.
The company said that its online revenue, including CTD, was 23.3 percent of the total revenue in the third quarter. Trading also benefited from the successful launch of the Topps Tiles App, which achieved almost 11,000 downloads in its first month.
Topps Tiles said that in the new hard surface category, revenue rose 11 percent from last year, driven by higher sales of acoustic panels, outdoor tiles, and shower panels.
Looking ahead, the company now expects adjusted profit before tax to be above 6.5 million pounds for the year. Despite the challenging market conditions, the company is confident of delivering its medium-term goals.
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September 11, 2026 16:26 ET Consumer prices data was the main news on the economic front in the U.S. this week. In Europe, the latest interest rate decision from the European Central Bank was the focus along with the revised second quarter economic growth data for the euro area. In Asia, the monthly foreign trade data from China drew attention.