Topps Tiles on target thanks to home improvements

The High Street is in strife but Topps Tiles is hanging on.

The tiles and wood flooring specialist said today that it will hit City profit forecasts for the year, presently around £13 million.

While the company's sales are down 1.7% over the year, they are still hitting a healthy £176 million.

Analysts say that it is benefiting from the moribund housing market - home owners are sprucing up where they already live rather than agitating to move.

The retailer will end the year with 320 stores in the UK, having opened 15 during the period and closed or relocated seven others during the same period.

It will report its ful-year results on November 29