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Gloucestershire Business News

Higher than expected profits for Topps Tiles

Topps Tiles - with branches in Gloucester, Cheltenham, Stroud and Cirencester - rode the wave of lockdown DIY projects.

It reported higher than expected profits on its best ever retail sales of £227.5 million.

Topps Tiles expects profits for the last financial year to be slightly above the £13.6 million previously predicted.

The retailer said it had attained "a significant competitive advantage in a market which is facing well-documented supply chain challenges".

Rob Parker, chief executive, said: "We remain confident on the outlook, against a backdrop of strong demand for DIY products and continued investment into home improvements.

"This performance reflects a robust level of consumer demand but also underlines the strength of our growth strategy and the success of initiatives such as our improved value range and investment in our award-winning digital offer.

"We remain confident on the outlook, against a backdrop of strong demand for DIY products and continued investment into home improvements."

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