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Topps Tiles fiscal H1 profit climbs 14.4% YOY

Topps Tiles PLC said its normalized net income for the fiscal first half ended March 28 was 3 Great British pence per share, an increase of 14.2% from 3 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £5.7 million, an increase of 14.4% from £5.0 million in the prior-year period.

Total revenue increased 6.5% on an annual basis to £104.0 million from £97.7 million, and total operating expenses grew 5.7% on an annual basis to £94.0 million from £88.9 million.

Reported net income grew 16.1% from the prior-year period to £7.1 million, or 4 pence per share, from £6.1 million, or 3 pence per share.