RNS Number:2650L Topps Tiles PLC 08 January 2008 Topps Tiles Plc The UK's largest tile and wood flooring specialist AGM and Interim Management Statement At today's Annual General Meeting of Topps Tiles Plc, Barry Bester, co-founder and Non-Executive Chairman will tell shareholders: "At the full year results announced on 27 November 2007, we reported that for the first 7 weeks of trading in the new financial period total revenues increased 8.4% and like for like revenues were up 1.1%. I am pleased to report that trading in the first 13 weeks of our new financial period has remained positive, with overall revenue up by 6.9% (2007: up 12.7%) and like-for-like revenue up 0.8% (2007: up 5.0%) despite a persistently tough retail market. The UK showed overall revenue growth of 6.6% (2007: up 12.1%) with like-for-like revenue up 0.7% (2007: up 4.6%). Holland showed overall revenue growth of 16.5% (2007: up 34.8%) with like-for-like revenue up 2.6% (2007: up 19.5%). In the UK, we are trading from a total of 302 stores, having opened 5 new stores, and closed or relocated 4 this financial period. We are on track to open a net 20 new stores this financial year. In Holland we are trading from 20 stores and remain on track to open 5 new stores this financial year. Our balance sheet remains stable and there have been no significant changes in the financial position of the Group since the publication of the Annual Report for the year ended 29 September 2007. Topps has consolidated its market leading position, and has transformed its business in the 10 years since listing on the London Stock Exchange, consistently delivering excellent shareholder returns. There continues to be an underlying growth trend in the retail tile market, with forecasts indicating that it will increase in volume by over 15% by 2011. There have been a number of changes within the senior management team during the year, including the appointment of Robert Parker as Finance Director, Matthew Williams as Chief Executive and Nick Ounstead as Business Development Director. I am confident that with this first class executive team we have the best management in place to take the business forward. Notwithstanding the challenging retail environment, we believe the prospects for future growth are positive." Enquiries: Barry Bester, Chairman 0161 486 2400 Matthew Williams, Chief Executive 0161 486 2400 Ann-Marie Wilkinson / Emma Kent, Bell Pottinger 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange END
