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Tile and flooring retailer Topps Tiles saw its first half profits fall by 22% but has been encouraged by a turnaround in like-for-like sales in the seven weeks to 19 May.
In the 26 weeks to end March, adjusted pre-tax profit fell to £5.6 million from £7.2 million in the same period a year earlier. Like-for-like revenues fell by 4.7%, which was in line with expectations and follows tougher comparatives in the previous year.
Group revenue in the half year period declined to £86.6 million from £89.2 million previously.
However in the seven weeks to 19 May, the retailer saw an improvemen...
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