Topps isn't Top of the Class

The Week: Morningstar columnist Rodney Hobson looks at mixed updates from Topps Tiles, Stock Spirits, and Countryside Properties

Rodney Hobson 4 December, 2020 | 9:22AM
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The Week

The Boris Johnson school of slogan writing is really thriving among struggling companies. Topps Tiles (TPT) is the latest to join the bluster brigade with its “world-class customer service” (well, it makes a change from world beating) and its “1 in 5 by 2025” target – the aim is to account for £1 in every £5 spent on tiles within five years. This will be achieved by “enhancing our value credentials”. Very droll.

Alas, it has been a dreadful year for a company with a long history of underperformance. The figures for the 52 weeks to September 26, which do not merit a mention in the operational headlines, show revenue down 12% and a pre-tax loss of £9.8 million despite a bounceback in the fourth quarter after store closures in the previous three months.

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About Author

Rodney Hobson

Rodney Hobson  is a columnist for and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.