UK’s Topps Tiles Reports Lower Income

London, England, May 29, 2012 — Topps Tiles reported a 22% decline in income but said its sales have picked up recently.

The UK’s largest tile and wood flooring retailer said profits fell to $8.8 million in the 26 weeks to the end of March, with a 4.7% drop in like-for-like sales.

However, sales at the start of the second half of its financial year were up 4.5%.

Topps warned that sales remain challenging so it is too early to say whether this marked the beginning of an improving trend.