Topps Tiles Hopes for Market Recovery
Tile and flooring specialist Topps Tiles is hoping for an upturn in business caused by a recovery in the sustained housing market. In March, the firm, which is the biggest such tile and flooring firm in the whole of the United Kingdom, including wooden flooring that should need little in the way of wood floor repair for many a decade, saw a slight upturn in its “like for like” sales of around 1.8%, which was nonetheless slightly down on the same time period last year.
Business does appear to be taking a turn for the better, largely thanks to a reported increase of homeowners who now appear to prefer to stay at home and do renovations on their properties themselves rather than sell up and move to a new property. That being said, industry analysts fear this may only be a temporary reprieve based on figures so far released in the second quarter of this year.
Despite what seems to still be a tough economic climate, however, Topps Tiles does not appear to have any intention of resting on its laurels. The company continues to move forward with its stated plans to open seven new stores, making a total of 320 across the entire United Kingdom. Topps Tiles is predicting that their profits for 2012 as a whole will be somewhere in the region of over 17 million UK pounds, which will amount to almost exactly a million pounds more than the profits recorded in 2010.