Results 

Topps optimistic over second half

Topps optimistic over second half

Despite a pronounced fall in first-half profits, the board at Topps Tiles (TPT) is standing by its full-year guidance. Somewhat predictably, the retailer cited an early Easter and "adverse weather" conditions (when better to redecorate your bathroom?), but the decline in reported profitability had more to do with a disproportionate increase in distribution and admin costs, together with a 90-basis point reduction in the "industry leading" gross margin.  

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now