Last checked at 10 Sep 2020 07:00
10 September 2020
Victoria PLC
('Victoria,' the 'Company,' or the 'Group')
AGM statement - Resilient Trading
Victoria PLC (LSE: VCP) the international designers, manufacturers and distributors of innovative flooring, is pleased to announce the following trading statement ahead of its AGM to be held later today.
Trading has continued to be resilient since it last updated the market in July and demand has recovered in all its principal markets. This is reflected in the Board's view that consumers are prioritising spending on improving and refreshing their homes following the lockdown. The Group continues to carefully manage expenses and cash flow to ensure it maintains its strong balance sheet given the current economic conditions.
Victoria's Annual General Meeting is being held at 2.00pm today as a closed meeting in light of current UK Government measures around COVID-19.
The Group will provide a full update on trading for the 27 weeks ended 3 October 2020 when it announces its Interim Results on 30 November 2020.
- Ends - For more information contact:
|
About Victoria
Established in 1895 and listed since 1963 and on AIM since 2013 (VCP.L), Victoria PLC, is an international manufacturer and distributor of innovative flooring products. The Group, which is headquartered in Kidderminster, UK, designs, manufactures and distributes a range of carpet, flooring underlay, ceramic tiles, LVT (luxury vinyl tile), artificial grass and flooring accessories. Victoria has operations in the UK, Spain, Italy, Belgium, the Netherlands and Australia and employs approximately 3,400 people across more than 20 sites. Victoria is the UK's largest carpet manufacturer and the second largest in Australia, as well as the largest manufacturer of underlay in both regions.
The Group's strategy is designed to create value for its shareholders and is focused on consistently increasing earnings and cash flow per share via acquisitions and sustainable organic growth.
The Group's trading subsidiaries, as set out segmentally, include:
UK & Europe - Soft Flooring: | Abingdon Flooring Ltd, Alliance Flooring Distribution Ltd, Avalon B.V, Distinctive Flooring Ltd, Estillon B.V, Ezi Floor Ltd, G-tuft Ltd, Grass Inc. B.V, Interfloor Ltd, Millennium Weavers N.V, Victoria Carpets Ltd, View Logistics Ltd, Venture Floorcoverings Ltd, Westex (Carpets) Ltd
|
UK & Europe - Ceramic Tiles:
| Ascot Gruppo Ceramiche srl, Ceramica Saloni S.A., Ceramiche Serra S.p.A., Nueva Iberoceramica S.L., Keraben Grupo S.A.U. |
Australia: | Primary Flooring Pty Ltd, Quest Flooring Pty Ltd, The Victoria Carpet Company Pty Ltd |