AGM Trading Update

RNS Number : 3490P

Victoria PLC

31 August 2017

 

31 August 2017

Victoria PLC

('Victoria' or the 'Company')

AGM Trading Update

Victoria PLC, (LSE: VCP) the international designers, manufacturers and distributors of innovative floor coverings, will hold the Group's Annual General Meeting at 10.00am this morning, Thursday 31 August 2017.

The Group is pleased to announce that it continues to make good progress in its key UK, European and Australian markets and is on track to meet all objectives for the current financial year.

In addition to organic growth, the Group continues to work on further acquisitions - in particular in Europe - and there is no shortage of high quality opportunities. With a strong platform for growth in place the Board continues to remain confident for the future and committed to delivering returns for shareholders.

Victoria PLC Geoff Wilding, Chairman Philippe Hamers, Chief Executive Michael Scott, Group Finance Director	[phone]
Cantor Fitzgerald Europe (Nominated Adviser and Broker) Rick Thompson, Phil Davies (Corporate Finance) Mark Westcott, Caspar Shand-Kydd (Sales)	[phone]
Finncap (joint broker) Matt Goode, Carl Holmes (Corporate Finance) Tim Redfern (Corporate Broking) Berenberg (joint broker) Ben Wright, Mark Whitmore, Amritha Murali (Corporate Broking)	[phone] [phone]
Buchanan Communications Charles Ryland, Victoria Hayns, Madeline Seacombe	[phone]

About Victoria PLC

Established in 1895 and listed since 1963 and on AIM since 2013 (VCP.L), Victoria PLC, is an international manufacturer and distributor of innovative flooring products. The Group, which is headquartered in Kidderminster, designs, manufactures and distributes a range of carpet, underlay, artificial grass and flooring accessories. In addition, it markets and distributes a range of complementary LVT (luxury vinyl tile) and hardwood flooring products produced by third-party manufacturers. Victoria has operations in the UK, Belgium, the Netherlands and Australia and employs approximately 1,800 people across 20 sites. Victoria is the UK's largest carpet manufacturer and the second largest in Australia.

The Group's strategy is designed to create wealth for its shareholders, focussed on constantly increasing earnings per share via acquisitions and sustainable organic growth. Growth for the Group is fundamentally driven by three aims:

·     achieving a leading position in UK, Europe and Australia;

·     continuing to seek and deliver cross-business synergies to drive like-for-like margin improvement; and by

·     consolidating a fragmented market place with earning-enhancing acquisitions.

The Group's trading subsidiaries, as set out segmentally, include:

UK & Europe:	A & A Carpets Ltd, Abingdon Flooring Ltd, Alliance Distribution Ltd, Avalon Grass B.V, Distinctive Flooring Ltd, Ezi Floor Ltd, Grass Inc. B.V, Interfloor Ltd, Victoria Belgium N.V, Victoria Carpets Ltd, View Logistics Ltd, Westex (Carpets) Ltd
Australia:	Quest Flooring Pty Ltd, Primary Flooring Pty Ltd, The Victoria Carpet Co. Pty Ltd

 

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