Finance
UK's Topps Tiles sees $5.2 million annual cost hike from new wage expenses
Published by Global Banking & Finance Review®
Posted on April 2, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 2, 2025
1 min readLast updated: January 24, 2026
Topps Tiles anticipates a $5.2M cost rise due to wage and insurance expenses, with strong sales growth reported in March.
(Reuters) - British tile retailer Topps Tiles TPT.L said on Wednesday it expects a rise in its annual cost base by about 4 million pounds ($5.2 million) from this month due to national living wage and insurance expenses, and reported strong sales growth in March.
British Finance Minister Rachel Reeves in her first budget last year had raised employers' social security contributions by 1.2 percentage points to 15% from April 2025 to raise revenue, with some companies pointing that it could hinder economic growth due to elevated payroll costs.
Topps Tiles said group sales, excluding that of CTD Tiles which it acquired last year, rose 4% in the 26 weeks ended March 29, helped by solid performance in its online trading.
($1 = 0.7745 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Mrigank Dhaniwala)
The article discusses Topps Tiles' anticipated $5.2 million annual cost increase due to wage and insurance expenses.
Topps Tiles reported a 4% sales growth in the 26 weeks ending March 29, aided by online trading.
Increases in the national living wage and insurance expenses are contributing to the cost rise.
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