VCP Victoria Plc

RNS No 3895v
VICTORIA CARPET HOLDINGS PLC
14th July 1997

                 VICTORIA CARPET HOLDINGS PLC
                    Annual General Meeting
                Trading update and name change


Commenting  on the current trading, Mr Bob Gilbert,  Chairman,
told  shareholders  at the Annual General Meeting  held  today
(Monday 14th July 1997) that:

"All  the  economic indicators would tend to suggest that  the
present environment for the carpet industry is more favourable
than at any time over recent history.

"However, interest rates moving upwards, the partial abolition
of  interest rate relief on mortgages and the added burden  of
stamp  duty,  is all aimed at damping down the housing  market
which is probably not what we wanted to happen.  Nevertheless,
as  far as the UK is concerned, with the new products we  have
brought  out  and  with the new technology in  which  we  have
invested, we remain confident of a sales growth for  the  rest
of this year and, at the present time, we are marginally ahead
of our budgets.

"Our  five  new  tufters are all installed  and  we  are  very
pleased  with  the  initial  results,  increased  output   and
increased quality.

"With   the  exception  of  the  dying  facility  and   Wilton
Manufacturing, all of our production and related managers  are
now based at Worcester Road, Kidderminster, with the economies
of scale that this should bring.

"Westwoods,  in  Yorkshire, is trading well  even  though  the
introduction of the new ranges at Kidderminster have created a
few  production problems which are now being addressed  as  we
move  towards  better delivery scheduling and  more  stringent
production planning.

"Abroad,  the  rest  of  Europe remains  depressed  with  over
capacity  and  intense competition.  The  increased  value  of
sterling is also far from helpful.

"In  Australia  the  economy also remains  depressed  and  our
Company  is  trading  under very difficult circumstances  with
intense price pressure. Victoria, however, has a niche  market
position,  with  very good product ranges and is  holding  its
own.   The  management is doing a splendid  job  and  actively
looking  for another executive director to join the  Board  in
the sales/marketing field.

"As  far as Castlemaine is concerned, our facility is  now  up
and  running and a large part of the disruption, caused by the
fire  which  was reflected in last year's figures,  should  be
washing out of the system.

"Overall,  we  are  looking to an improving contribution  from
Australia in the current year."


NAME CHANGE

At  the time of the announcement of the Preliminary Results it
was  proposed to change the name of the Group to Victoria PLC.
This  resolution has now been passed and the name change  will
take place with immediate effect.


Enquiries:-
Bob Gilbert
Chairman
Today 3.00pm-4.00pm: Tel: 01562 823400
Thereafter: Tel: 0121-233 1000

Alan Bullock
Managing Director
Tel: 01562 823400



END

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