Topps Tiles stole a march on its rivals last year but still saw profits dip as trading in the tile and flooring market remained “tough”.
The Leicester-based company said it increased its market share from 27% to 28.5% in the year ending September 28 and also made a strong start to the current year with like-for-like sales already up 7.4%, boosting its shares more than 5% today.
However, economic uncertainty continued to weigh on its pre-tax profits, which were £10.6 million compared to £12.5 million in 2012, as consumer spending remained tight.
Chief executive Matthew Williams said: “Shareholders can be confident that, as market leader, Topps remains well positioned to continue to grow profitable market share and capitalise on any further improvement in the UK housing market and consumer confidence in 2014.”
