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Topps Tiles PLC (LSE:TPT) shares fell 4.6% to 33p as first-half sales stuttered in a declining home improvement market, requiring the tile retailer to step up cost-cutting measures to protect profitability. Revenue of £142.7 million was reported for the six months to late March, broadly flat year on year, though sales excluding its CTD business rose 2.1%.

British tile retailer Topps Tiles said ​on Wednesday that it would close ‌23 underperforming stores as part of cost‑saving measures, aimed at boosting medium‑term profitability amid weakening market ​demand.