Topps Tiles posts second year of record revenues
By Matt Hall | 30th November 2022
Specialist tile retailer Tops Tiles has reported a second year of record revenues, thanks to what it calls 'significant' market share gains.
Revenue rose more than eight per cent to almost £250 million in the year to October 1. Gross profit also jumped four per cent to £135 million.
The retailer, which has stores in Gloucester, Cheltenham, Stroud and Cirencester, said it had been expanding its online presence to boost customer numbers.
Topps also now sells its products on marketplace very.co.uk.
Chief executive Rob Parker said: "We are pleased to have delivered a year of strong strategic progress, with record sales for a second year running and excellent delivery against our '1 in 5 by 2025' market share goal.
"Within our Topps Tiles brand, where the majority of sales are being made to professional tradespeople, our focus on fewer more profitable stores and category extensions has driven sales per store up 25% since 2019.
"Parkside, our commercial brand, has delivered a record year of sales and now moved into profit."
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