VCP Victoria Plc

RNS No 9435n
VICTORIA PLC
6th July 1998

                              
                        Victoria PLC
                   Annual General Meeting
                              
At  today's (6th July ) Annual General Meeting, Bob Gilbert,
Chairman told Shareholders:

"There  can  be little doubt hearing the news in  the  press
from  several  major retail groups in both  the  carpet  and
furniture sectors, that business on the high street for 'big
ticket' consumer durables is very tough.

Recent  interest  rates  rises have contributed  to  further
damaging  confidence in consumer spending  here  in  the  UK
whilst  the  value of Sterling has also been  boosted  to  a
level  which  makes  our exports less competitive  in  world
markets  and  sucks in imports into our markets  from  major
European competitors.

This  having  been  said, the Board is  confident  that  its
strategy,  which was clearly spelt out in our Annual  Report
is   correct  and  that  our  marketing  coupled  with   the
investments  made  in  new  products  and  equipment,   will
continue to improve the Group's performance.

I  am  pleased, therefore, to be able to report that despite
these  poor market conditions, the Group has met  fully  its
budgeted  profit  targets  in the  first  quarter  and  that
barring  further major down-turns in market  conditions,  is
hopeful  of  sustaining  the  Group's  enhanced  performance
throughout this financial year."


Enquiries:
Bob Gilbert , Chairman
Alan Bullock, Managing Director
Victoria PLC
Telephone:01562-823400
or
Fiona Tooley, Director
Citigate Communications Ltd
Telephone: 0121-631-2299 / 0385 703523



END

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