Topps Tiles sees FY adj. pretax profit in line

Topps Tiles said revenues for the 52-week period to Oct. 1 are expected to be in the region of £215m. Like-for-like revenues are seen to show an increase of about 4.2% on the prior year, from a gain of 5.4%.

Like-for-like revenues in the 13 weeks ended 1 October 2016 were ahead by 1.4%.

"We estimate that the previously announced strategic decision to exit from the low margin wood flooring category during the quarter reduced Q4 like-for-like sales by about 1.5%," the company said.

"This impact will reduce over Q1 FY2017 as sales from our new range of larger format tiles build," it added.

"Adjusted pre-tax profits for the year ending 1 October 2016 are expected to be within the range of current market estimates."