NEWSFLASH TOPPS TILES
TRADING UPDATE Topps Tiles has released a positive trading update reporting that for the 13 weeks to 27th December like for like revenue increased 6% This is solid growth for the UK’s largest tiling and wood flooring company adding to a strong previous year which has also seen the opening of eight new stores. CEO Matthew Williams was upbeat about the future of the company and this has been reflected in several broker reiterations of a “buy” stance,
DESIGNER CONTRACTS EXPANDS FOLLOWING SURGE
IN BUSINESS The UK’s largest flooring contractor, Designer Contracts, is trebling its central distribution depot with a move to larger premises.
It follows another successful 12 months for the Chesterfield-based business, which has just announced an annual turnover of £30 million – a 16% increase on the previous year.
The relocation sees an increase in size from 44,000 to 109,000 square feet, with a significant increase in height, offering three times the amount of storage capacity.
Peter Kelsey, MD, said: “The new, bigger warehouse is located close to
major road networks, meaning our dedicated distribution service can continue to serve our 12 UK regions quickly and even more efficiently.
“The extra space allows us to accommodate a second state-of-the- art cutting machine and sortation system – helping us respond to the most demanding of schedules.
“With business continuing to grow, especially within the housebuild, social housing and rental sectors, this move will allow us to continue to offer our customers an unrivalled selection of products – at the quickest of turnarounds.”
The unit, in Kettering, will also become the base for Designer Contracts’ South & East Midlands regional office, currently based a few miles away.
Altogether, some 50 staff will work at the new facility, which is expected to be up and running by early spring 2015.
www.designercontracts.com
Fiona Cincotta, a senior market analyst at
finspreads.com said: “Unfortunately the share price has not reflected the strong performance of 2014 and lost over 4.9% during the course of the last 12 months, however the last three months have seen a fairly dramatic turnaround for Topps Tiles with the share price jumping over 15% in the last quarter. Looking ahead the future looks rosy for the tiling company; if wages continue to rise in real terms and consumers are feeling in a more confident mood for purchasing then 2015 could be another strong year.”
www.toppstiles.co.uk
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www.tomorrowsfl
ooring.com
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