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16 May 2011 11:26
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Issued by Citigate Dewe Rogerson Ltd, Birmingham
Date: Monday, 16 May 2011
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VICTORIA PLC
Group Trading Update
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The Board of Victoria PLC ("Victoria" or "Group") publishes the following Trading update ahead of its Preliminary Results for the year ended 2 April 2011, which are scheduled for announcement in the second half of June:
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Since the release of the Group's last IMS Statement (10 February 2011), it is pleasing to report that trading in Victoria's two core market areas of Australia and the United Kingdom has been stronger than expected.
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Therefore, the Board anticipate that pre-tax profit (pre-exceptionals) for the year ended 2 April 2011 will be significantly ahead of current market expectations.
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This strong performance is despite the continuing weakness of the Irish economy which has severely impacted the Group's two Irish businesses. The Board has therefore decided to further restructure its Irish businesses and the material non-recurring costs will be incurred in the first half of the new financial year ending 31 March 2012. The Group will retain a strong presence in the Irish market and this move should enhance the Group's overall position in the future.
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Further details will be contained in the Group's Preliminary announcement referred to above.
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Enquiries: | |
Victoria PLC | Citigate Dewe Rogerson |
Alan Bullock, Group Managing Director | Fiona Tooley, Director |
Mobile: +44 (0) 7785 325701 | Office: +44 (0) 121 362 4035 |
Ian Davies, Group Finance Director | Mobile: +44 (0) 7785 703523 |
Mobile: +44 (0) 7770 638791 | |
Office: +44 (0) 1562 749300 | |
www.victoriaplc.com |
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