Information  X 
Enter a valid email address

Victoria PLC (VCP)


Monday 29 March, 2021

Victoria PLC

Continued Growth at Italian Business

RNS Number : 7225T
Victoria PLC
29 March 2021

Victoria PLC

('Victoria', the 'Company', or the 'Group')

  Continued Growth at Italian business - Milestone of €100m Sales Achieved


The Board of Victoria PLC (LSE:VCP), the international designers, manufacturers and distributors of innovative floorcovering, is pleased to advise that its Italian business has continued to grow throughout 2020/21 and on Friday invoiced its €100 millionth sale since the start of the financial year.

In December 2017, Victoria began its expansion into Italy by acquiring Sassuolo-based ceramic tile manufacturer, Ceramiche Serra - a mid-sized factory with revenues at the time of €28 million. As shareholders will recall from earlier announcements, Serra continued to perform very strongly under Victoria's ownership and, notwithstanding investment in a new production line shortly after acquisition, outgrew its production capacity during 2019.


Therefore, in February 2020, Victoria acquired, for £9.9 million, the factory of a neighbouring business, which was facing closure, complete with its plant, equipment and brands . This was a highly efficient way of adding production capacity as it provided more-or-less instantaneous additional production capacity versus the 18-24 months it would take to build a factory, install the plant, and acquire emission rights.


This factory was fully integrated into the existing Italian operation during the following six months, with a reduction of employees from 368 to 250 FTE alongside production output increasing by 1.2m m² of red body tiles and 0.7m m² of porcelain tiles. The product mix was also optimised.


Victoria is delighted to report that, despite the constraints of the last 12 months, the management team has taken full advantage of the additional capacity. G rowth has accelerated over the last 12 months with new significant customers and new markets - mainly in Eastern Europe and North America - being secured (nearly 100% of output is exported globally) . As a result, on Friday 26 March, the business reached a remarkable milestone - invoicing €100 million of sales for the year since 30 March 2020.


Organic growth has again filled capacity and some production is once more being outsourced. Consequently, Victoria is now actively seeking to efficiently add further capacity to enable this production to be insourced to improve margins further as we are confident of additional growth in 2021/22.





For more information contact:

Victoria PLC

Geoff Wilding, Executive Chairman

Philippe Hamers, Group Chief Executive

Michael Scott, Group Finance Director

+44 (0) 1562 749 610


N+1 Singer (Nominated Adviser and Joint Broker)

Rick Thompson, Phil Davies, Alex Bond



+44 (0) 207 496 3095

Berenberg (Joint Broker)

Ben Wright, Mark Whitmore, Tejas Padalkar


Peel Hunt (Joint Broker)

Adrian Trimmings, Andrew Clark


Buchanan Communications (Financial PR)

Charles Ryland, Chris Lane, Tilly Abraham

+44 (0) 203 207 7800



+44 (0) 207 418 8900



+44 (0) 20 7466 5000


About Victoria

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, UK, designs, manufactures and distributes a range of carpet, flooring underlay, ceramic tiles, LVT (luxury vinyl tile), artificial grass and flooring accessories.


Victoria has operations in the UK, Spain, Italy, Belgium, the Netherlands and Australia and employs approximately 3,400 people across more than 20 sites. Victoria is the UK's largest carpet manufacturer and the second largest in Australia, as well as the largest manufacturer of underlay in both regions. 


The Group's strategy is designed to create value for its shareholders and is focused on consistently increasing earnings and cash flow per share via acquisitions and sustainable organic growth. (Further information about Victoria can be found on its website,


This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

a d v e r t i s e m e n t