Victoria Regulatory News (VCP)

23 Mar 2006 14:45

Victoria PLC23 March 2006 Issued by Citigate Dewe Rogerson Limited, BirminghamDate: Thursday, 23 March 2006 IMMEDIATE RELEASE Victoria P.L.C. ("the Group") Year End Update The Board of Victoria P.L.C. wishes to provide the following update prior to theclose period, for the year ending 1 April 2006: Overall, the Group's operations have been trading in-line with expectationsduring the second half of the financial year. It is anticipated that the Group'sresults for the year ending 1 April 2006, before the following restructuringcosts, will be in-line with consensus market forecasts. As part of the on-going review of the business and in particular, the need toremain efficient and competitive in today's markets, it is proposed that theGroup's dyeing operations in Kidderminster will cease. The cost of closure isanticipated to be in the region of £175,000 which will be taken as a one-offrestructuring charge in the accounts for the year ending 1 April 2006. Thisincludes the cost of approximately 18 redundancies and non-cash asset writedowns. The Group's results for the year ending 1 April 2006 will be announced on 20June 2006. Enquiries:Alan Bullock, Group Managing Fiona Tooley, DirectorDirectorMark Lee, Group Finance Director Katie Dale, Senior Account ManagerVictoria P.L.C. Citigate Dewe RogersonTelephone: 01562 749 640 Telephone: 0121 455 8370www.victoria.plc.uk Mobile: 07785 703523 (FMT) or 07770 788 624 (KD)--------------------- This information is provided by RNS The company news service from the London Stock Exchange