Topps Tiles Reports Flat H1 Revenue but Improved Gross Margins and Cost-Saving Initiatives Boost Profit
Topps Tiles reported flat pro forma first-half revenue at £142.6 million, supported by a 160 basis point rise in gross margin that lifted adjusted operating profit by 17%. The company is implementing cost-saving initiatives expected to yield annual benefits of £6 million and has closed 23 loss-making stores.
Topics: cost-cutting digital transformation profitability retail