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:
Victoria PLC
Geoff Wilding, Executive Chairman
Philippe Hamers, Group Chief Executive
Michael Scott, Group Finance Director
|
+44 (0) 1562 749 300
|
N+1 Singer (Nominated Adviser and Joint Broker)
Rick Thompson, Phil Davies, Steve Pearce, Alex Bond
|
+44 (0) 207 496 3095
|
Berenberg (Joint Broker)
Ben Wright, Mark Whitmore
Peel Hunt (Joint Broker)
Adrian Trimmings, Andrew Clark
Buchanan Communications (Financial PR)
Charles Ryland, Chris Lane, Tilly Abraham
|
+44 (0) 203 207 7800
+44 (0) 207 418 8900
+44 (0) 20 7466 5000
|
|
|
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
|
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the
United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com or visit
www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the
London Stock Exchange use the personal data you provide us, please see our
Privacy Policy.
END