Topps Tiles (LSE:TPT) said full-year adjusted profit before tax will be in line with current market expectations, covering the 52 weeks to 26 September.
Group revenue, including CTD, came in at approximately £292 million, down approximately 1.3% year-on-year, reflecting the annualisation of prior-year CTD store closures and previously announced closures of underperforming Topps Tiles outlets.
Stripping out CTD, revenue rose roughly 0.7% to approximately £267 million, with like-for-like revenue at Topps Tiles down just 0.1% despite fourth-quarter trading disrupted by periods of extreme heat.
The company said like-for-like sales improved in September and that it continued to outperform a wider home improvement market that declined approximately 1.7% over the financial year, citing Barclays UK consumer spend data.
Company-compiled analyst consensus puts FY26 adjusted profit before tax at £6.6 million, within a range of £6.5 million to £6.7 million, a step up from the trading update in June, when management trimmed guidance to expect adjusted profit above £6.5 million after third-quarter trading fell short of forecasts.
Pro Tiler Tools delivered record revenue of approximately £42 million, up 18.2%, while online revenue climbed to 25.6% of group sales in the fourth quarter and 22.7% for the full year, up 3.7 percentage points.
The group completed its previously announced self-help programme, covering store network optimisation, a lower-cost labour model and head office consolidation, and said its August 2024 acquisition of Fired Earth proved profit accretive in the year.
CTD now trades from 23 stores, down from 31 a year earlier, following commercial property decisions and a disposal of four stores required by the Competition and Markets Authority.