StockMarketWire.com - Topps Tiles said its first-half profit slipped by a third after severe winter storms kept customers away and input and marketing costs rose.

Pre-tax profit fell by 33% to £6.4m, as revenue increased 3.7% to £110.5m.

Like-for-likes sales grew by 0.6%, reflecting strong first-quarter growth of 3.4%, offset by a 2.2% fall in the second quarter when the storms bit.

The company held its interim dividend steady at 1.1p per share.

In the first seven weeks of the second half, like-for-like sales were down 0.2%.

'While we are retaining a cautious view of market conditions for the remainder of the year, we remain confident in our ability to continue to extend our market leading position,' Topps Tiles said.


At 9:26am: [LON:TPT] Topps Tiles PLC share price was +3.25p at 72.25p



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