VCP Victoria Plc

 

TIDMVCP 
 
RNS Number : 6255M 
Victoria PLC 
02 February 2009 
 

 
 
Issued by Citigate Dewe Rogerson Ltd, Birmingham 
Date: Monday, 2 February 2009 
 
 
 
 
 
 
Victoria PLC 
Interim Management Statement and Trading Update 
 
 
 
 
Victoria PLC ('Group' or 'Victoria' or 'Company') publishes its Interim 
Management Statement covering the period October to December 2008 to the date of 
this announcement as required by the UK Listing Authority Disclosure and 
Transparency Rules. 
 
 
As reported at the Half-Year announcement, results for the first half of the 
current financial year proved resilient, but concerns about the rapidly 
deteriorating Global economy made it difficult to predict the likely outturn for 
the remainder of the year. 
 
 
As the Group entered its third quarter, the impact of worsening global economic 
conditions began to severely hamper progress in all its markets. The resulting 
collapse of consumer confidence has caused a significant decline in activity and 
this has impacted the Group's overall performance in terms of both revenues and 
profitability. 
 
 
Group revenues were down 10.4% on a like-for-like basis for the quarter against 
the corresponding period in 2007. Revenues declined 18.7% in the UK, 7.2% in 
Australia, and 28% in Ireland, in local currency terms. 
 
 
The Group has continued to grow its market share despite the worsening market 
conditions and to invest in the business for the future, making good progress in 
the identified new market sectors, and all the operating businesses remain 
profitable. 
 
 
There have been no material events or transactions during the third quarter and 
the financial position remains strong. 
 
 
Prospects 
The Group anticipates that the trading environment will remain extremely 
difficult, principally due to the weakening sentiment of the consumer in 
relation to both employment opportunities and the substantially weaker housing 
markets in all regions. 
 
 
Against this backdrop and, given that visibility has become even tougher to 
predict, this deterioration in the marketplace has clearly impacted the Group's 
overall performance for the year as a whole. Consequently, the Board anticipates 
that the results for the full year are likely to be significantly below current 
market expectations. 
 
 
The Board remains confident that the Group has a sound and solid business model 
from which it can build upon once confidence returns to its markets both in the 
UK and across the globe. 
 
 
+---------------------------------------+----------------------------------------+ 
|     Enquiries:                        |                                        | 
+---------------------------------------+----------------------------------------+ 
|                                       |                                        | 
+---------------------------------------+----------------------------------------+ 
|     Victoria PLC                      | Citigate Dewe Rogerson                 | 
+---------------------------------------+----------------------------------------+ 
|     Alan Bullock, Group Managing      | Fiona Tooley, Director                 | 
|     Director                          |                                        | 
+---------------------------------------+----------------------------------------+ 
|     Mobile: +44 (0) 7785 325701       | Mobile: +44 (0) 7785 703523            | 
+---------------------------------------+----------------------------------------+ 
|     Ian Davies, Group Finance         | Keith Gabriel, Senior Account Manager  | 
|     Director                          |                                        | 
+---------------------------------------+----------------------------------------+ 
|     Office: +44 (0) 1562 749300       | Mobile+ 44(0) 7770 788624              | 
+---------------------------------------+----------------------------------------+ 
|     Mobile: +44 (0) 7770 638791       | Office: +44 (0) 121 455 8370           | 
+---------------------------------------+----------------------------------------+ 
|     www.victoria.plc.uk                                                        | 
+---------------------------------------+----------------------------------------+ 
 
 
Worcester Road, Kidderminster, Worcestershire DY10 1JR England 
Telephone: 01562 749300 Fax: 01562 749649 
 
 
Registered in England No. 282204 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IMSTTMMTMMAMBML 
 

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