DIY trend changes Topps fortunes

INCREASING numbers of home owners changing rooms rather than homes has led to a sales boom for Topps Tiles, Britain's largest ceramic tiles retailer.In the first six weeks of its second half, which began at the start of December, overall sales rose 25%, or 12% on a like-for-like basis.

Chief executive Barry Bester said the increasing popularity of TV house makeover programmes is largely responsible for the surge in sales. His salesforce had noted that women were taking the lead in deciding on and installing changes to their homes.

Bester said the home improvements market was so strong that his target of 24 new stores to be opened this year would be met, with 14 already open. Topps now has 160 outlets throughout Britain with one store in Holland, which Bester said was making 'reasonable progress' since it opened last June.

Following last year's shock profits warning, Bester is confident that the group will be able to meet expectations for the current and future years. Pre-tax profits were up 18% to £5.9m in the six months to 1 December despite a failed venture into MFI stores, which cost Topps £156,000. The interim dividend goes up 17% to 1.35p.