Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Tile specialist Topps Tiles has posted a 17.% drop in revenue for the second quarter of 2021, blaming the sales slide on the third lockdown.
For the 26 weeks up to March 27, total revenues were £103.6m, up 2%. The first quarter grew 19.9%, then sales dropped by 17.3%.
Rob Parker, CEO, said: “Our revenues for the first half reflect a very strong first quarter followed by a period over the majority of the second quarter when sales, particularly to homeowners, were significantly impacted by the trading restrictions imposed on our stores during the third national lockdown.
“The group adapted to the changed environment swiftly and effectively, producing a resilient performance in the circumstances.
“We are looking forward to the lifting of lockdown restrictions in April and are concentrating on being well prepared for the return of all customers to our stores.
“We have a strong balance sheet, are debt-free, and are well positioned for growth this financial year as we move towards our goal of ‘1 in 5 by 2025’.”
