VCP Victoria Plc

RNS Number:6207C
Victoria PLC
06 September 2004

Issued by Citigate Dewe Rogerson Ltd, Birmingham
Date: Monday, 6 September 2004
                                                               Embargoed: 7.30am


                  Victoria P.L.C. ("Victoria" or "the Group")
                               Trading Statement

At the Annual General Meeting held on 23 July 2004, the Group stated that the
first three months of the year had been mixed. We drew attention to the fact
that the geographical diversity of the Group's operations had helped the balance
of our business but that the UK residential sector was experiencing slightly
reduced levels of activity.

Whilst the summer months are traditionally a quieter time in the UK market, the
general malaise in the UK economy coupled with a number of interest rate rises,
has had a substantial impact on our UK and Irish residential business. Sales in
the UK have been lower than levels achieved last year, with a consequent impact
on profitability.

In addition, whilst we were anticipating a recovery within our Axminster
Department during the current financial year, we have continued to experience
operational difficulties in the integration of our looms from Navan.
Consequently, this has had an adverse effect upon the profitability of our woven
business, despite continuing good levels of customer demand for our product.

As a result of the above factors, the Board now expects that the interim results
to 2 October 2004, will show a pre-tax profit significantly below the figure for
the corresponding period last year.

The Group expects to see some improvement in the second half of the financial
year, particularly given the positive reaction from our customers to new ranges
that we are currently launching. Also, our Australian operations are continuing
to perform in line with our expectations.

Given the shortfall in the first half year, and the uncertainties that exist in
the UK economy, the results for the full year to March 2005 will also show a
significant shortfall compared with the previous year. However, in the absence
of any unforeseen circumstances, the Board hope to maintain the dividend at the
current level.



Enquiries:
Alan Bullock, Group Managing Director
Mark Lee, Group Finance Director                  Fiona Tooley
Victoria P.L.C.                                   Citigate Dewe Rogerson
Tel: 01562 749 640                                Tel: 0121 455 8370
Mobile: 07785 325 701 (Alan Bullock)              Mobile: 07785 703523
www.victoria.plc.uk




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