Topps Tiles turns in strong figures following 11.7% improvement in year on year sales

Topps Tiles

Topps Tiles Plc, the UK’s largest tile specialist with 330 stores, has announced its interim results for the 26 weeks to 29th March 2014.

First half sales reached £97.7 million, up from £87.4 million in the corresponding period in the previous year, up 11.7% year on year.

Like-for-like revenue growth year on year was 10.2%, achieving a gross margin of 60.8%, reflecting a strategic focus on market share gains and stronger levels of consumer confidence.  The improvement in gross margin reflects further supply chain efficiencies and proactive management of the cost base.

Topps Tiles believes that its sales growth is ahead of theoverall tile market, further strengthening its market leading position.
Topps also reported encouraging initial results from trial of new smaller format Topps Tiles Boutique stores.  The trial is to continue in H2, with a further two stores to be opened in and around the M25

Like for like sales over the seven weeks to 17th May 2014 increased by 5.6%.

Commenting on the results, Matthew Williams, Chief Executive said: “The Group has delivered a very successful first half performance, with strong sales growth, improving gross margins and overall growth in profits.  While trading conditions undoubtedly improved during the period, helped by a higher level of consumer confidence, we believe our first half sales growth was significantly ahead of the overall tile market.”

“Our strategy continues to focus on market share gains driven by offering an authoritative and differentiated range, outstanding service, and multichannel convenience, resulting in excellent overall value for money.”

“We have made a good start to the second half with a healthy level of sales growth in the initial seven weeks of the period.  We believe we continue to grow sales ahead of the market and remain confident that our strategy will continue to deliver profitable market share gains, against a backdrop of a steady improvement in UK economic indicators.”

Norfolk tiler, Mark Moment, is celebrating after winning a brand new Citroen van

topps tiles

Norfolk tiler, Mark Moment, is celebrating after winning a brand new Citroen van worth £17,000 after being chosen as the Topps Trade Rewards Club national prize draw winner.

Moment was entered into the competition thanks to being a member of the Topps Trade loyalty scheme, which supports registered tradesmen across the country.

“I can’t believe I have won this amazing prize, it’s not every day you win a brand new van by simply going to your local Topps store!” says Moment.  “When I found out I’d won, I thought it was a wind-up by the lads I work with.  I’ve never won anything before and having been in the tiling business for almost 25 years, this really is the highlight of my career!”

“At Topps we meet hundreds of tradesmen every day in our stores and we understand how hard they work and the efforts they go to in order to get the job done to the highest standard, says Topps Commercial Director, Brian Linnington.  “The Topps Trade Rewards Club is our way of thanking our trade customers for their loyalty, but also to try and support their own commercial needs.”

The next Topps Trade Rewards Club competition is already underway, with 40 £300 fuel cards up for grabs along with a big prize draw of a £3,000 fuel card, which is certain to make a very welcome difference to a tradesman’s business this Spring.  Visit www.toppstiles.co.uk.

Pat Hunt from Capitol Tile Designer Studio is retiring from the tiling industry after spending a total of 42 years in the trade.  Her career began in marketing and graduated through to sales.  After seven years as an Architectural Representative with tile manufacturer George Woolliscroft & Son, she joined Capitol Tiles in its infancy, as a Retail Sales Representative, working with Peter Yates and Garry Watts.

At the time the company was in the process of running down the contract side, Layrite Ltd, and developing a distribution base under the banner of Capitol Tiles.  However, with the experience of specifying tiles and dealing with architects and designers, it was a natural progression for Pat Hunt to pursue her instincts and Designer Studio was established in 1986.  Working closely with Managing Director, Charles Williams, and the Sales Director, Garry Watts, she was instrumental in building the business in the tile specification market.

Through this period Capitol displayed it’s products at design shows in London and from a base in the Design Centre Berners Street Showroom in London showing new designs from Imola, La Impronta and other manufacturers in Italy.

Pat Hunt attributes the success of Designer Studio to teamwork and the support and confidence of the Directors in driving the business model forward, allowing her to manage the day to day operations with her team.  Her sheer persistence, dedication, and loyalty, has been paramount in her successful career and to the benefit of Capitol Tiles.

In retirement, Pat Hunt is looking forward to maintaining her large garden, cooking and walking through the countryside, not to mention spending time with her sisters in Canada.

Capitol have arranged a farewell Party in her honour enabling her to mix with her current and past colleagues, close friends’ and family for a memorable send off.

The Director’s celebrate Pat Hunt as:”Old School to the last, honest, trustworthy a true friend and college who has supported everyone throughout her career, a real trooper .. and they wish her every good luck in retirement.”

Topps Tiles has launched its latest promotional campaign which offers customers significant spring savings on the retailers’ best-selling product lines.  Running until 2nd June 2014 customers can benefit from 15% off Topps Tiles’ favourites, including tiles, wood, stone and accessories.  The promotion, which is available both online and in-store, will be supported via a series of TV adverts.  Beth Boulton, Head of Marketing, said: “We know it’s that time of year when homeowners are looking to renovate their kitchens, bathrooms and hallways.”