Topps Tiles announce a proposed final dividend of 2.6 pence per share (2021: 3.1 pence per share), giving a full year dividend of 3.6 pence per share (2021: 3.1 pence per share), up 16.1% year on year
Other financial highlights include:
•Group revenue up 8.4% to £247.2 million
•Group gross profit up 3.6% to £135.4 million with gross margin down due to business mix and inflation
•Costs well controlled, with increases due to inflation and normalisation of business rates expense offset by cost savings and reduction in store numbers
•Adjusted profit before tax up 4.0% to £15.6 million and adjusted EPS up 2.0% to 6.14 pence
•Strong operational cash flows - closing net cash lower than last year largely due to one-off items
•Strong balance sheet with £16.2 million net cash and new £30.0 million revolving credit facility, committed to at least October 2025
