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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.
Consumer
Consumer
Director, Consumer
Darren Shapland
Non-Executive Chairman
Robert Parker
CEO
Stephen Hopson
CFO
Forecast net cash (£m)
15.1
Forecast gearing ratio (%)
N/A
| % | 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 |
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 |
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