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Topps encouraged by consumer demand

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Topps Tiles has said recent sales gave it 'cause for confidence'

Tile and wood flooring firm Topps Tiles has said recent sales gave it “cause for confidence” as it benefits from the UK’s “improve not move” trend.

The group, which trades from 312 outlets across the UK, said like-for-like sales in the first seven weeks of its new financial year were up 3.2% on the previous year.

The improved sales represent a turnaround after a decline in like-for-like revenues over the summer as consumers delayed home improvements amid the uncertainty surrounding the general election and emergency budget.

Home furnishing businesses – such as wallpaper and fabric firm Walker Greenbank – have put decent sales down to homeowners choosing to improve their homes rather than moving house.

Topps Tiles recorded pre-tax profits before exceptional items of £12.4 million in the year to October 2, up from £9.9 million the previous year. The firm also resumed its final dividend at 1p per share.

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