The Topps Tiles Board is proposing a final dividend of 2.4 pence, bringing the full year dividend to 3.6 pence, in line with last year and representing 80% of adjusted earnings per share.
The shares will trade ex-dividend on 21 December 2023 and, subject to approval from shareholders at the Annual General Meeting in January 2024, the dividend will be payable on 2 February 2024.
Other financial highlights include:
•Group revenue up 6.3% to £262.7 million
•Group gross profit up 2.8% to £139.2 million
•Group gross margin at 53.0%, with growth through the year driven by increasing margin in Topps Tiles
•Adjusted profit before tax of £12.5 million due to the impact of cost inflation
•Cash increased £7.2 million, due to strong operational cash flows and disciplined working capital management
•Strong balance sheet with £23.4 million net cash and £53.4 million headroom within committed borrowing facilities
