Victoria PLC Full Year Trading Update (8229S)
22 Março 2016 - 4:01AM
UK Regulatory
TIDMVCP
RNS Number : 8229S
Victoria PLC
22 March 2016
22 March 2016
Victoria PLC
('Victoria,' the 'Company,' or the 'Group')
Full Year Trading Update
Trading Materially Ahead of Market Expectations
Victoria PLC, (LSE: VCP) the international designers,
manufacturers and distributors of innovative floor coverings, is
pleased to provide a positive trading update on the financial year
ending 2 April 2016. The Board is pleased to announce that the
Group's profits before tax and exceptional items will be materially
ahead of current consensus market expectations for the financial
year ending 2 April 2016.
The Group's recent acquisitions have now been fully integrated
and the associated operational synergies have resulted in improved
gross profit margins, which the Board anticipates will continue to
accrue into 2017. In addition, the Group's businesses have seen a
strong performance in the key UK and Australian markets.
Furthermore, due to the continued focus on improved cash
generation there will be a material reduction in Group net debt and
the net debt to EBITDA ratio since the interim results.
Finally, as highlighted in the announcement dated 8 March 2016,
the discussions regarding the potential acquisition of Lano Carpets
are ongoing and a further announcement will be made in due course,
as appropriate.
For more information contact:
Victoria PLC +44 (0) 1562 749 300
Geoff Wilding, Chairman
Michael Scott, Group Finance Director
Cantor Fitzgerald Europe +44 (0) 20 7894 7000
(Nominated Adviser & Broker)
Rick Thompson, Phil Davies,
David Foreman, Michael Reynolds (Corporate Finance)
Whitman Howard +44(0) 20 7659 1234
(Joint Broker)
Nick Lovering, Ranald McGregor-Smith
Buchanan Communications +44(0) 20 7466 5000
Charles Ryland, Victoria Watkins, Jane Glover
This information is provided by RNS
The company news service from the London Stock Exchange
END
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March 22, 2016 03:01 ET (07:01 GMT)
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