Victoria PLC Positive Full Year Trading Update (1119C)
April 11 2017 - 1:00AM
UK Regulatory
TIDMVCP
RNS Number : 1119C
Victoria PLC
11 April 2017
11 April 2017
For Immediate Release
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Victoria PLC
('Victoria,' the 'Company,' or the 'Group')
Positive Full Year Trading Update
Trading Ahead of Market Expectations
Victoria PLC, (LSE: VCP) the international designers,
manufacturers and distributors of innovative flooring, provides the
following positive trading update. The Board is pleased to announce
that the Group's underlying profits before tax will be comfortably
ahead of current consensus market expectations for the financial
year ending 1 April 2017.
The Group's performance has benefited from operational synergies
following the integration of recent acquisitions in the UK and
Australia, which have continued to positively impact gross profit
margins and overheads throughout the current financial year.
Further improvements are expected in the coming financial year as
the Group benefits from the further expertise and input of Philippe
Hamers, the new Group Chief Executive, who started with Victoria on
20 March 2017.
Outlook
Victoria remains focused on its strategy to create wealth for
shareholders. Ongoing operational improvements are expected to
continue to deliver very good organic earnings growth over the
coming 12 months. Additionally, Victoria has invested a significant
amount of time and energy during the past year identifying further
suitable acquisition opportunities within Victoria's existing
markets and, importantly, Europe. The Group's banks continue to be
very supportive and there remains considerable headroom in existing
facilities. The Board is confident it will deliver another year of
significant, earnings-accretive acquisition growth in addition to
underlying organic growth.
For more information contact:
Victoria PLC +44 (0) 1562 749 300
Geoff Wilding, Chairman
Michael Scott, Group Finance Director
Cantor Fitzgerald Europe +44 (0) 20 7894 7000
(Nominated Adviser & Broker)
Rick Thompson, Phil Davies, Michael Reynolds (Corporate
Finance)
Mark Westcott, Caspar Shand-Kydd (Sales)
finnCap +44 (0) 20 7220 0500
(Joint Broker)
Matt Goode, Carl Holmes (Corporate Finance)
Tim Redfern (Corporate Broking)
Buchanan Communications +44 (0) 20 7466 5000
Charles Ryland, Victoria Hayns, Jane Glover
This information is provided by RNS
The company news service from the London Stock Exchange
END
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