VCP Victoria Plc

 

TIDMVCP 
 
RNS Number : 0945Q 
Victoria PLC 
28 July 2010 
 

 
Issued by Citigate Dewe Rogerson Ltd, Birmingham 
Date: Wednesday, 28 July 2010 
 
                                  Victoria PLC 
      International manufacturer & distributor of carpets & floorcoverings, 
  supplying the mid to high end residential, and contract markets in the UK and 
                                    overseas 
 
                             Annual General Meeting 
 
                          Interim Management Statement 
                               and Trading Update 
                                        & 
                    Senior Independent Director Appointment 
 
At the Annual General Meeting of Victoria PLC ("Victoria") held today (28 July 
2010), Chairman,Nikki Beckett provided the following update to shareholders: 
 
"As part of our Regulatory obligation and the Transparency Directive, Victoria 
is providing the following Interim Management Statement and Trading Update for 
the 13 week period 4 April 2010 to 3 July 2010: 
 
Trading 
Total Group revenue increased by 11.2% for the first quarter against the 
corresponding period in 2009.  The increase was supported by favourable currency 
movements and on a constant currency basis; revenue was up by 4.7%. 
 
Australian revenue increased by 9.8% on a like-for-like basis, with the 
Australian economy continuing to grow, but with market conditions for retailers 
remaining mixed. 
 
In the UK, revenue increased by 1.1%, on a like-for-like basis, against a 
background of soft trading on the High Street for big ticket items. 
 
In Ireland, with a continuation in very weak consumer confidence and severely 
reduced expenditure on government projects, revenue in this region declined by 
28.8%, on a like-for-like basis. In May, the Group restructured this division 
aimed at stemming the loss this further downturn created. 
 
Outlook 
Revenue activity in the UK has remained weak and it is anticipated that the 
trading environment will continue to be difficult in the second quarter.  In 
Australia, the trading environment is stronger, but consumer confidence is 
uncertain.  The Irish market remains very weak and there is no clear indication 
of any substantial upturn. 
 
Summary 
Overall, the trading environment will continue to be challenging.  However, the 
Group remains confident that it has a financially strong position, a solid and 
geographically diverse business model which is well positioned to support future 
growth when the markets in which it operates start to strengthen. 
 
 
Appointment of an Independent Non-Executive Director 
The Board of Victoria is pleased to announce that Peter Jensen has accepted the 
appointment to join the Main Board as Senior Independent Director 
(Non-executive) with effect from 1 September 2010. 
 
Peter had a 20-year career with SmithKlineBeecham Plc working in a variety of 
senior management positions including the role of President of Worldwide Supply 
Operations and Chairman of Consumer Healthcare Europe, as well as several senior 
marketing roles.  Peter headed the executive team that helped to create 
GlaxoSmithKline as Europe's leading consumer healthcare business. 
 
In the last five years, Peter has held a number of Non-executive roles outside 
the healthcare industry and has previously held Non-executive directorships with 
Genetix Group Plc; Celsis International Plc; Domino Printing Sciences Plc and 
Glenmorangie Plc. 
 
Nikki Beckett, Chairman of Victoria commented that: 
"We are delighted that Peter has agreed to join the Board as Senior Independent 
Director.  His breadth of corporate experience, both in Executive and 
Non-executive roles, will be invaluable to the Board and we are confident that 
he can contribute significantly to the next development phase and growth for our 
business, both at home and overseas." 
 
There are no further matters which are required to be disclosed under Rule 
9.6.13R of The Listing Rules. 
 
Annual General Meeting 
At today's Annual General Meeting, all resolutions were duly passed by the 
shareholders and details of the proxy votes are provided on the Group's website 
www.victoriaplc.com or by request from the Company Secretary. 
 
 
 
 
+---------------------------------+--------------------------------+ 
| Enquiries:                      |                                | 
+---------------------------------+--------------------------------+ 
| Victoria PLC                    | Citigate Dewe Rogerson         | 
+---------------------------------+--------------------------------+ 
| Alan Bullock, Group Managing    | Fiona Tooley                   | 
| Director                        |                                | 
+---------------------------------+--------------------------------+ 
| Ian Davies, Group Finance       | Mobile: +44 (0) 7785 703523    | 
| Director                        |                                | 
+---------------------------------+--------------------------------+ 
| Tel: +44 (0) 1562 749300        | Keith Gabriel                  | 
+---------------------------------+--------------------------------+ 
| www.victoriaplc.com             | Mobile+ 44(0) 7770 788624      | 
+---------------------------------+--------------------------------+ 
|                                 | Tel: +44 (0) 121 362 4035      | 
+---------------------------------+--------------------------------+ 
 
 
 
 
 
 
 
 
 
 
         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 
 
 AGMKKFDKQBKDFOB 
 

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