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UK's Topps Tiles forecasts sales, margin recovery as lockdown eases

March 31 (Reuters) - Topps Tiles reported lower half-year sales on Wednesday, but the tile retailer said it expects sales to rise “sharply” and margins to recover to normal levels as the current lockdown in the United Kingdom gradually eases by the middle of April.

Total revenue for the 26-week period fell to 103.6 million pounds ($142.14 million) from 106.2 million a year ago, the company said, adding that margins in the second quarter would be lower than the first due to the restrictions. ($1 = 0.7289 pounds) (Reporting by Priyanshi Mandhan and Pushkala Aripaka in Bengaluru; editing by Uttaresh.V)

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