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Topps Tiles

August 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • TPT
  • Price:
  • 44p
A new high as the shares reacted belatedly to a Q3 trading statement to 30 June. Having already reported like-for-likes of +4.5% for the first 7 weeks, the subsequent six weeks have shown negative growth of -0.6% although excluding the effect of the Jubilee bank holiday, the underlying rate is around +2%.  In terms of new space, three of the five planned stores for the year are now operational. Assuming Topps does achieve +2% in Q4, then it should meet consensus forecasts, which stand at £13m pretax for the year. Peel Hunt is expecting slightly better at £14m and eps of 5.4p. The shares look set to go higher in the medium term although sporting events tend to have a negative influence for the tiling industry. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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