**Summary**
Topps Tiles Plc, the UKs leading tile specialist, reported its unaudited consolidated interim financial results for the 26 weeks ended 28 March 2026. The company highlighted significant progress against its strategic priorities, including
1. **Focus on Profitability**Expanded gross margin and implemented cost-saving initiatives to achieve an 8%+ PBT margin, counteracting structural headwinds and positioning the company for sustainable growth.
2. **Market Outperformance**Outperformed the RMI market, driven by growth in trade, digital acceleration, and sales excellence. Trade mix increased to 74.6% of revenue, online revenue rose to 21%, and new category extensions grew by 7%.
3. **Acquisition Integration**Improved CTDs performance, with losses reduced by ยฃ0.6m year-on-year, and Fired Earth exceeding expectations, already profitable in the period.
4. **Financial Performance**Reported adjusted revenue of ยฃ142.6m, up 11.6% year-on-year, with proforma adjusted revenue marginally down 0.2%. Adjusted profit before tax was ยฃ2.2m, flat on a proforma basis.
5. **Strategic Initiatives**Closed 23 loss-making stores, rolled out a new store productivity model, and consolidated Tile Warehouse into Topps Tiles to simplify the customer offer.
6. **Digital Transformation**Launched a new trader app, improved website capabilities, and continued the rollout of the ERP upgrade and system modernization.
7. **Outlook**Expects to deliver profit upside in the second half, with modest year-on-year profit growth in line with market expectations, despite challenging macro conditions.
The company remains focused on its Mission 365 strategy, aiming for long-term sustainable profit growth.