Topps Tiles expects its underlying profits for the year to September to be above £6.5 million, a decrease from £9.2 million the previous year, with a heatwave compounding its trading difficulties.

Topps Tiles plans to close 23 of its stores as part of 'significant self-help measures' to mitigate rising costs, with eight stores already shut and the remainder expected to close over the next six months.

Key highlights from Topps Tiles' first-half earnings call were reported, detailing the company's financial performance for the period.

A brief market snapshot highlights the performance and news surrounding several small-cap companies including Arrow Exploration, Quantum Blockchain Technologies, S&U, and Topps Tiles.

Topps Tiles plans to close 23 of its stores as part of a broader cost-cutting initiative.