Russ Mould, investment director at AJ Bell, said: “The recent encouraging showing from Topps Tiles continues, with the lows seen last spring acting as a floor for the share price.
“The company’s leading position seems to be supporting strong sales growth despite an indifferent market which has not been helped by the impact of last year’s Budget on property transactions.
“A big factor in the company’s recent success has been a renovation of its digital proposition.
“A fifth consecutive quarter of like-for-like growth suggests Topps is building something sustainable rather than just enjoying a brief time in the sun.
“If lower interest rates help support a recovery in the housing market, this could provide an added tailwind for the group.
“Although the lack of guidance on the outlook for 2026 from Topps may lead to some pause for thought.
“The recently acquired CTD business acted as a drag as the company was forced to sell stores to satisfy the competition watchdog.
“Shareholders will be relieved the remedies sought by the CMA are now done and dusted which should allow for improved performance moving forward.
“Today’s update represents an encouraging start for CEO Alex Jensen after taking the helm to replace long-serving boss Rob Parker.”
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