Topps Tiles Shares Gain: Analyst Sees Meaningful Progress

Topps Tiles (LON: TPT) shares jumped at the start of Tuesday’s session after the company reported revenue and profit growth, and analysts highlighted “meaningful progress” on its strategic goals.

In its interim results, Topps said adjusted sales rose 4.1% to £127.8 million for the 26 weeks to 29 March 2025, while adjusted profit before tax climbed 3.2% to £3.2 million. 

Meanwhile, group online sales rose to 19.8%, with strong growth in Pro Tiler Tools and Tile Warehouse. The company also confirmed a 0.8 pence interim dividend.

Russell Pointon, an analyst at Edison, said in a note reacting to the results that they show Topps is “back into revenue and profit growth despite inflationary cost pressures, demonstrating its operational gearing.” 

He pointed to solid early-stage performance in managing CTD Tiles following a prolonged regulatory review and praised continued execution of the “Mission 365” strategy.

That strategy includes expanding into new coverings categories, improving digital trade platforms, and growing business-to-business sales. Online trade sales surged 85%, while trade traffic in Topps Tiles quadrupled.

CTD reported £1 million in trading losses for the half but is expected to break even by the fourth quarter. 

Topps said the integration plan is now underway following the conclusion of the CMA investigation.

Topps noted a strong start to the second half, with adjusted sales up 9.5% year-on-year in the first seven weeks. The company believes it is “well-positioned to deliver sales and profit growth this year.”