Topps Tiles (LSE: TPT)

Currency in GBP

Last close As at 26/05/2023

GBP0.54

0.80 (1.51%)

Market capitalisation

GBP106m

Topps Tiles is the market-leading specialist retailer/distributor of wall and floor tiles, and associated products such as tools, grouts and adhesives, to its retail, trade and commercial customers in the UK.

Latest Insights

Consumer

Topps Tiles – executive interview

Consumer

Topps Tiles — Grout expectations

Sector

Consumer

Equity Analyst

Russell Pointon

Russell Pointon

Director, Consumer

Key Management

  • Darren Shapland

    Non-Executive Chairman

  • Robert Parker

    CEO

  • Stephen Hopson

    CFO

Balance Sheet

Forecast net cash (£m)

15.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 11.0 9.8 1.5
Relative 15.3 14.3 2.0
52 week high/low 53.8p/38.0p

Financials

Topps Tiles (TPT) has undergone a significant change in recent years by completing the rationalisation of an over-extended store format with the aim of improving profitability and returns. It has also entered new and complementary markets, which almost double its addressable market, where it hopes to leverage its competitive advantages of a leading product and service to new customer bases. As the new businesses scale and inflationary pressures ease, the group looks well placed to accelerate its growth in revenue and profits.

Y/E Oct Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2021A 228.0 47.6 16.5 6.73 8.0 2.2
2022A 247.2 44.6 16.4 6.37 8.4 2.4
2023E 261.3 40.8 13.2 4.77 11.3 2.6
2024E 272.9 42.1 14.2 5.04 10.7 2.5

Research

Consumer

Topps Tiles – executive interview

Consumer

Topps Tiles — Grout expectations

Thematics

Consumer

ConsumerWatch – April 2023

Consumer

ConsumerWatch – January 2023

Consumer

ConsumerWatch – October 2022

Consumer

IPO apocalypse

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