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Highlights
- Topps Tiles secured a group revenue of GBP 262.7 million in FY23, marking a 6.3% hike from GBP 247.2 million in pcp.
- The company’s gross profit has risen by around 2.8% to GBP 139.2 million in FY23, as compared to GBP 135.4 million in pcp.
- For H2 FY23, the company’s gross margin was recorded at 52.8%, same as the gross margin of first half of FY23.
FTSE All-Share index listed Topps Tiles PLC (LSE:TPT) is headquartered in United Kingdom. TPT is involved in supply of tiles and associated accessories to both trade and retail customer base for the refurbishment of domestic housing.
The company secured a group revenue of GBP 262.7 million in FY23, marking a 6.3% hike from GBP 247.2 million in the previous corresponding period. The rise in top-line business was mainly because of higher revenue from the Online Pure Play business following soaring demand and increased pricing. The company’s gross profit has risen by around 2.8% to GBP 139.2 million in FY23, as compared to GBP 135.4 million in pcp.
TPT has announced a final dividend of GBX 2.4 per share to be paid to the shareholders on 02 February 2024. The firm’s annualized dividend yield stands at ~7.71%, as on 24 January 2024.
For the second half of the fiscal year 2023, the company’s gross margin was recorded at 52.8%, versus 52.8% in the first half of FY23. Furthermore, its EBITDA margin has increased to 14.8% in H2 FY23 from 12.4% in H1 FY23. TPT’s net margin was registered at 2.4% for H2 FY23, as compared to 0.5% in H1 FY23.
However, for the first quarter of FY24, the company witnessed a 4% fall in its sales as compared to the previous corresponding period. Also, TPT’s like for like sales decreased by approximately 7% in Q1 FY24.
Top 10 Shareholders:
Around 74.17% of the total shareholdings in the firm is held by its top ten shareholders. While MS Galleon AG is the biggest shareholder with maximum number of shares of about 29.78%, Aberforth Partners LLP is the second biggest shareholder with over 14.6% shareholding.
Stock Price Performance
TPT’s stock price has declined by approximately 4.69% in the last three months. It has decreased by 17.19% over the last six months. The stock’s 52-week low and high price stand at GBX 42.37 and GBX 57.80, respectively.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 24 January 2024. The reference data in this report has been partly sourced from EODHD/Others.
