Retailer Topps Tiles has revealed it is on track for record full-year sales after thriving amid Britain's buoyant housing market and moves to refresh its products and stores.
The UK's biggest tile and wood flooring specialist, which runs 348 stores, said it is in line for its highest ever full-year revenues of around £212 million in the year to October 3.
Like-for-like sales growth dipped slightly to five per cent in the fourth quarter from 5.9 per cent in the third, but remained robust over the full-year, at around 5.3 per cent.
It added the group is on track to take a third of the UK tile market by the end of year.
Leicester-based Topps has been boosted by rising consumer wages and strong property market conditions, while it has also benefited from a product revamp and the launch of new upmarket boutique stores.
It has introduced more natural stone tiles and wood flooring with 17 new product lines, while it launched its latest boutique store in Muswell Hill, north London, earlier this month, bringing the number of these new outlets to 13.
Matthew Williams, chief executive of Topps, said: "I am pleased to report that Topps will complete a successful year, with good growth in profits and a record level of turnover, both of which are directly attributable to our strategy of out-specialising the specialist.
"As a result of this, we are confident of hitting our one third market share goal by the end of this year."
The group also outlined plans to save at least £500,000 a year by closing its Cheadle office in Cheshire and moving all support functions to its head office just outside Leicester.
Topps also plans to close nine remaining clearance stores, having already converted four under the main Topps Tiles branding.
Freddie George, retail analyst at Cantor Fitzgerald, said Topps Tiles had seen a "direct benefit from a steady improvement in UK housing transactions from a low base, consumer confidence and the rise in house prices and we believe will continue to benefit from these factors".
He added there is also potential for up to 70 of its new boutiques "which will provide valuable insights into new ranges and store design".
Topps launched its boutique stores last January, aimed at bringing a sample of its product range from its large suburban outlets to high street stores.
The group opened its first store in Manchester in 1963, before becoming a public company in 1997.
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