Topps Tiles announce an interim dividend of 1.0 pence has been declared by the Board (H1 2025: 0.8 pence). The shares will trade ex-dividend on 4 June 2026 and the dividend will be paid on 10 July 2026.
Other financial highlights include:
•Revenue performance robust, and ahead of the market, in a challenging environment. Adjusted revenue of £142.6m up 11.6% year-on-year driven by inclusion of £12.3 million of CTD revenue in H1 2026. Proforma adjusted revenue is marginally down 0.2%.
•Adjusted gross margin down 0.4 ppts, driven by mix due to margin dilutive CTD business included in H1 2026. Proforma adjusted gross margin up 1.6 ppts with strong margin growth in Topps Tiles.
•Proforma adjusted operating costs up 1.8% with management driven cost savings largely offsetting inflation driven cost increases.
•Self-help cost saving and profit driving initiatives will further underpin profit delivery in the second half.
•Proforma adjusted operating profit up 17.3% given solid gross margin growth and tight operating cost management.
•Adjusted profit before tax of £2.2 million down £1.0 million versus prior year, however, flat at £2.2 million on a proforma basis, given CTD trading was a loss of £1.0 million in H1 2025.
•Statutory revenue (including CTD in both years) of £142.6m marginally down 0.2% year-on-year.
•Statutory profit before tax £0.5 million (H1 2025: £1.9 million) including the impact of store impairment, one-off property related closure costs, CTD residual one-off and non-recurring costs and management succession.
•Balance sheet remains robust, with adjusted net debt4 of £3.1 million at the period end (H1 2025: net debt £1.2 million), and £30 million banking facility committed until October 2027.
