Last checked at 28 Apr 2015 07:00
28 April 2015
Victoria PLC
('Victoria,' the 'Company,' or the 'Group')
Pre-Close Trading Update
Victoria PLC, (LSE: VCP) the international designers, manufacturers and distributors of innovative floorcoverings, is pleased to provide the following update on trading for the financial year ended 28 March 2015, ahead of its preliminary results announcement in July 2015.
Trading
The Board announces that the Group's profit before tax and exceptional items is likely to be ahead of current market expectations for the full year to 28 March 2015.
The Group's performance has benefited especially from operational synergies that have resulted from the recent Group acquisitions, which have started to benefit gross profit margins and overheads in the last quarter of the financial year. The first few weeks of the new financial year have also started well, and the Board expect to see a continuation of the benefits from operational synergies throughout the year.
New Bank Facilities
We are also pleased to announce that the Company has agreed a new multi-currency revolving facility with its existing Group bankers, Barclays and HSBC, which has replaced existing facilities and provides substantial headroom for future growth.
For more information contact:
Victoria PLC Geoff Wilding | +44 (0) 15 6274 9300 |
Cantor Fitzgerald Europe Rick Thompson, David Foreman (Corporate Finance) David Banks, Tessa Sillars (Corporate Broking) |
+44 (0) 20 7894 7000
|
MHP Nick Denton Adam Leviton Gina Bell |
+44 (0) 20 3128 8100 victoria@mhpc.com |