Skip navigation

Gloucestershire Business News

Topps Tiles profits sink

Profits at Topps Tiles have halved, despite a big increase in sales.

Sales at the retailer, which has stores in Gloucester, Cheltenham, Cirencester, Stroud and Moreton-in-Marsh, were up 9.3% to £130.3m, as reported by Retail Gazette.

But pre-tax profits were down 69.6% to £1.7m in the 26 weeks to April 1. Adjusted pre-tax profit fell 38% to £4.4m.

Topps Tiles said profits were hit by the ongoing impact of inflation, including the big rise in energy costs.

It expects profits to increase in the second half, driven by the growth of its new businesses and reduced gas costs.

The retailer said it is on track to hit its 20% market share target.

Related Articles

EXCLUSIVE: Successful restaurant chain sets its sights on Cheltenham Image

EXCLUSIVE: Successful restaurant chain sets its sights on Cheltenham

The London-based company wants to take over the former TM Lewin shop

EDF Group creates new UK engineering subsidiary Image

EDF Group creates new UK engineering subsidiary

EDF has created EDF EPR Engineering UK to strengthen its nuclear engineering presence in the UK.

Boost for tourism as ice rink returns to Cheltenham Image

Boost for tourism as ice rink returns to Cheltenham

Visitors and locals are invited to get their skates on once again to create magical memories on the ice at a new rink in Cheltenham.

EXCLUSIVE: Fury over loss of 12 parking spaces Image

EXCLUSIVE: Fury over loss of 12 parking spaces

Questions asked over 'flawed' council sale.

Copyright 2023 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.