- Tile specialist Topps Tiles said it expected to report a modest adjusted annual profit after sales recovered in the fourth quarter of its financial year.

Sales for the year through 26 September were expected to be in the region of £192 million, down 12% from £219 million a year earlier), with retail like-for-like revenue down 13%.

In the fourth quarter, however, retail like-for-like revenue had jumped 17%.

'The strong finish to the year ... gives the board confidence that the group will generate a modest level of adjusted profit before tax for the 52 weeks ended 26 September 2020,' Topps Tiles said.

At 2:18pm: [LON:TPT] Topps Tiles PLC share price was -3.2p at 49p

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