Topps Tiles Plc : AGM Statement

Topps Tiles Plc

The UK's largest tile specialist

AGM and Interim Management Statement

At today's Annual General Meeting of Topps Tiles Plc ("The Group"), Michael Jack, Non-Executive Chairman will tell shareholders:

"Trading conditions remained tough throughout our first quarter.  Against this backdrop, like for like revenues across the first 13 weeks of the financial year decreased by 4.2%.  In the context of the previously reported 6.9% like for like decline during the first 7 weeks of this period we are assured by our performance over the quarter as a whole and encouraged by the progress made in the last 6 weeks trading. 

"Looking ahead, the Board remain very conscious of the difficult outlook for the consumer in 2012 but we believe that our strategy of offering outstanding value for money combined with exceptional levels of service will continue to deliver the best results for both our customers and our shareholders.

"The Group is currently trading from a total of 320 stores.  As stated in the Annual Report, we are pursuing prudent expansion of the store estate and anticipate opening approximately 5 new stores during this financial year.

"There have been no further significant changes in the financial position of the Group since the publication of the Annual Report and Financials Statements for the 52 weeks ended 1 October 2011."

Ends

Enquiries:

Topps Tiles Plc                                                                                   0161 486 2400

Michael Jack, Chairman                                                                    

Matthew Williams, Chief Executive                                                   

Rob Parker, Finance Director                                                            

Citigate Dewe Rogerson                                                                    020 7638 9571

Kevin Smith

Lindsay Noton