Topps Tiles Posts Rise In Annual Profit

Topps Tiles PLC TPTJF reported a 58% rise in its FY14 pretax profit and lifted its final dividend payment by 60%. Topps Tiles reported a pretax profit of 16.7 million pounds ($26.17 million), compared to GBP10.6 million, in the year-earlier period. Profit attributable to equity holders of the company jumped to 12.5 million pounds, or 6.43 pence a share, compared to 9.1 million pounds, or 4.73 pence a share, in the year-earlier period. Its revenue climbed 10% to GBP195.2 million, while like-for-like store sales gained 8.1%. Matthew Williams, CEO of the group commented, "Topps had an excellent year in 2013/14 as our consistent focus on taking profitable market share helped the Group to significantly outperform the overall tile market and deliver robust increases in like for like sales, pre-tax profits and earnings per share." The company declared a final dividend of 1.60 pence a share.