Mission 365 Progress
Topps Tiles has achieved 40% of its Mission 365 goal, aiming for GBP 365 million in sales with an 8-10% net margin. Sales growth is supported by five clear areas of opportunity, including strong performance in trade and digital sales.
Strong Financial Performance
Adjusted pretax profit reached GBP 9.2 million, a 46% increase year-on-year. Adjusted earnings per share growth allowed for a 21% dividend increase. Gross margin improved by 50 basis points year-on-year.
Pro Tiler Expansion
Pro Tiler's sales grew by 27% in the second half of the year, contributing to a total of GBP 35 million in sales, tripling since acquisition.
Digital Sales and Trade Growth
Digital sales penetration increased to over 21% from 18.5% last year. Trade sales in Topps Tiles grew by 13.3%, now accounting for 69% of overall sales.
Positive Outlook for CTD
CTD stores have been integrated and are delivering consistent like-for-like growth. A strategic plan is in place to move CTD into profitability by FY '26.
Fired Earth Acquisition
The acquisition of the premium brand Fired Earth is expected to expand the addressable customer base and digital penetration.