Ulph

Topps Tiles Investment Appraisal Ulph

Project Report from the year 2010 in the subject Business economics - Investment and Finance, grade: 70, University of Hertfordshire (Business School), course: MA Marketing, language: English, abstract: We initiate coverage of Topps Tiles with a Buy rating and target price of £0.90, a 63% upside to current share price. Topps Tiles is a tile and flooring retailer operating 321 retail units (utilising 186,000 m2 of sales area), the company was initially listed in 1997 on the London Stock Exchange. The company has been subject to significant decreases in demand during the 2007 - 2010 financial downturn; however its ability to survive and capitalise on competitor failures to absorb market excess should position the company for significant future growth. We believe that this current strategy is the correct one.