Topps Tiles Achieves Record Turnover, Signals Continued Growth

Topps Tiles (LON: TPT) saw its share price jump more than 8% on Wednesday after it announced a record year for turnover, reaching approximately £265 million in adjusted sales for the 52-week period ended September 27, 2025, a 6.8% increase year-on-year.

The tile specialist's performance underscores its strategic advancements and market leadership, marking the fourth year in the last five with record sales.

Including CTD, total Group sales reached approximately £296 million, up 17.7% year-on-year. This positions 2025 as a pivotal year in Topps Group's pursuit of its ‘Mission 365' goal: achieving £365 million in total Group sales in the medium term, alongside an adjusted profit before tax margin between 8% and 10%.

Sales improvements were broad-based across the business. Topps Tiles, Parkside, Online Pure Play, and CTD each reported improved year-on-year performance in the second half compared to the first. Like-for-like sales in Topps Tiles accelerated to 7.7% growth in the second half, up from 3.0% in the first half, resulting in 5.3% growth for the year.

The Group anticipates higher adjusted gross margins in the second half compared to the first. While costs increased due to factors such as the National Living Wage, National Insurance Contributions, and performance-related pay, adjusted profit for the year is expected to align with market expectations, which are in the range of £8.3 million to £9.2 million for FY25. The business expects to close the year with a net positive cash position.

Strategic progress has supported the strong trading performance, particularly in modernizing the Topps Tiles trade digital experience, increasing business-to-business sales, and supporting the growth of Pro Tiler Tools. Further details on strategic progress will be provided in the full-year results.

Regarding CTD, the Group completed the disposal of two of the four sites required by the CMA in September, with the remaining two expected to be finalized imminently. CTD remains strategically important, especially in expanding the Group's reach with larger contractors, commercial partners, and housebuilders.

Alex Jensen joined Topps Group as CEO designate on September 15, working alongside Rob Parker to ensure a smooth transition. The search for a permanent CFO is progressing, with an announcement expected before the end of the year.