The flooring specialist posted a 1.6% decline in statutory pre-tax profit to £12.5m in the 12 months to September 28.

On an adjusted basis, pre-tax earnings were flat at £16m, despite a 1.1% uplift in group sales to £219.2m during the year.

However, Topps cautioned that “consumer demand has weakened further” since the election was called, sparking a 7.2% slump in like-for-like sales during the first eight weeks of its new financial year.

The business insisted that “a reduction in political uncertainty will be key to the short term outlook improving”.