Topps Tiles, the Leicester-based tile specialist, has returned to profit while witnessing a record year of revenue.
In unaudited annual financial results for the 53 weeks ended 2 October 2021 the company posted a pre-tax profit of £14.3m, up from a loss of £9.8m in the year prior.
Group revenue meanwhile reached £228m, growing from £192.8m.
Retail like-for-like sales were up 19.6% despite trade restrictions throughout Q2.
Rob Parker, Chief Executive, said: “Our full year results demonstrate the strength of our position as the UK’s leading tile specialist and the potential of the business when it has been able to trade without restriction.
“Despite significant disruption for a three month period, during which our stores were unable to welcome homeowners, we delivered record revenues for the year and made good progress towards our ‘1 in 5 by 2025’ market share goal.
“We believe this performance underlines the strength of our strategy and the success of new initiatives including the expansion of our value ranges and the introduction of innovative new products. The successful development of our digital offer during the year has been particularly pleasing and we have plans in place to expand this further in 2022.
“Trading in the initial weeks of the new financial year has been robust with two-year Retail like-for-like sales growth of 18.4%. While trading headwinds are likely to continue over the short term, we are confident in our strategy and our ability to deliver sustainable long term growth.”
