Updates & Ideas

Topps Tiles - Missed out on rally; ex-cash PE 8.6 and 7.3

February 2024

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.

With markets now expecting five interest rate cuts in 2024 investors are scrambling to gain exposure to bombed out housing and property services businesses. I wouldn’t go so far as to call it a “dash for trash” as the best gains have come from well capitalised businesses, ranging from house builders Barratt Developments (390p Liz Truss low to 550p) and Vistry (680p to 934p), to brick manufacturer Forterra (123p to 164p), brick factor Brickability (43p to 61p) and kitchens and doors giant Howden Joinery (480p low to 765p). But others are yet to fire such as “buy and build” building merchant Lords, 41p on a prospective PE of 8.5x based on what are probably cyclical low earnings (consensus eps 6.0p and 7.0p in FY’25) and Topps Tiles, the ...

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Cohort - In-year order intake 1.3x turnover

Hollywood Bowl - Forecasts inch higher

Topps Tiles - Largest UK tile retailer well-placed to benefit from falling interest rates (December 2024)

Topps Tiles (December 2023)

Topps Tiles - Liberum price target: 100p (August 2023)

Topps Tiles (February 2023)

Topps Tiles (November 2022)

Topps Tiles (July 2022)

Topps Tiles (April 2022)

Topps Tiles (February 2022)

Topps Tiles - Eps forecasts upgraded from 3.2p to 6p over the year (January 2022)

Topps Tiles - Trading slightly ahead of expectations (November 2021)

Topps Tiles - Price target increased from 75p to 100p (July 2021)

Topps Tiles - Blow-out online trading, plus focus on value underpin 1 in 5 goal (March 2021)

Topps Tiles - New target to grow market share from 17% to 20% by FY 25 (February 2021)

Topps Tiles - Weaker Q4 trading (November 2016)

Topps Tiles - Dividend could rise 50% by FY'18 (September 2016)

Topps Tiles - Strong outlook (July 2016)

Topps Tiles - Q2 like-for-like sales +4.9% (May 2016)

Topps Tiles (February 2016)

Topps Tiles - Two year LFL sales up c.14% (November 2015)

Topps Tiles (August 2015)

Topps Tiles (July 2015)

Topps Tiles - Tile retailer benefits from rising disposable income (June 2015)

Topps Tiles - Strong sales growth (February 2015)

Topps Tiles - Like-for-like sales up 6.3% (August 2014)

Topps Tiles (July 2014)

Topps Tiles (February 2014)

Topps Tiles - Shares hit new high of 132p (January 2014)

Topps Tiles - Top-slice some profits (November 2013)

Topps Tiles - Rising house market boosts shares (August 2013)

Topps Tiles (July 2013)

Topps Tiles (February 2013)

Topps Tiles - Mortgage approvals rise (January 2013)

Topps Tiles - Specialist tile retailer sees pick up in sales (July 2012)

Topps Tiles (May 2011)

Topps Tiles (February 2011)

Topps Tiles - Underlying sales turn sharply positive (January 2011)

Topps Tiles - Signs of strong trading recovery (November 2010)

Topps Tiles (August 2010)

Topps Tiles (July 2010)

Topps Tiles (May 2010)

Topps Tiles (February 2010)

Topps Tiles - Â£15m placing strengthens balance sheet (January 2010)

Topps Tiles - Specialist tile firm offers excellent recovery potential (December 2009)

Topps Tiles (May 2009)

Topps Tiles - Shares rally after co-founder acquires 2m shares at 15p (March 2009)

Topps Tiles - Prospective dividend yield 8.7% (March 2008)

Topps Tiles - Panmure Gordonâ€™s price target is 345p (July 2007)

Topps Tiles (February 2007)

Topps Tiles - Special dividend of 54p a share (August 2006)

Topps Tiles - Efficiency gains offset sales fall (July 2006)

Topps Tiles (March 2006)

Topps Tiles - Reasonable results (January 2006)

Topps Tiles - Fast growing tiles specialist still going strong (July 2005)

Topps Tiles - Underlying sales growth still over 15% (February 2005)

Topps Tiles - Gain reaches 408% (January 2005)

Topps Tiles - Earnings forecast upgraded to 12p (November 2004)

Topps Tiles - Good opportunity to take huge gains (August 2004)

Topps Tiles - Wonder stock does 5:1 share split (July 2004)

Topps Tiles - 160p rise in just two months (April 2004)

Topps Tiles - Shares break into new highs (February 2004)

Topps Tiles - Simple formula working wonders (January 2004)

Topps Tiles - Underlying sales ahead 15% (November 2003)

Topps Tiles - Like-for-like sales 10.5% ahead (June 2003)

Topps Tiles - A Warren Buffett "inevitable"? (April 2003)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Topps Tiles - Missed out on rally; ex-cash PE 8.6 and 7.3

February 2024

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